ad pepper media sells Crystal Semantics to WPP GroupBack to overview
Nuremberg/Amsterdam, December 06, 2013 – ad pepper media international N.V. today reached agreement with WPP Group (UK) Ltd. concerning the sale of its semantic online advertising technology and will thus be selling its 100 percent stake in Crystal Semantics Ltd. with economic effect as of December 01, 2013. The two companies have agreed a purchase price of USD 3 million, of which a portion of roughly EUR 1 million (EBT) will impact on earnings and liquidity in the current financial year.
At the same time, ad pepper media International N.V. and WPP Group have agreed a long-term license agreement enabling ad pepper media to draw on Crystal’s trailblazing targeting and brand safety solution in future as well.
By selling Crystal Semantics, the ad pepper media Group will significantly reduce its current research and development expenses. Overall, the company expects to see annualized cost savings on a scale of EUR 1 million.
For more information:
Jens Körner (CFO)
ad pepper media International N.V.
phone: +49 (0) 911 929057-0
fax: +49 (0) 911 929057-157