TEL AVIV Oct 18 Israeli online advertising
company Matomy Media Group has launched a review of its
business to consider all available options to increase
shareholder value, including a possible deal.
The company has hired RBC Capital Markets as its financial
adviser to lead the review, but said that no decision has been
made to enter into any transaction at this time and there can be
no assurance that the review will result in any transaction.
"Notwithstanding the recent progress against strategic
milestones and the company's financial strength, the board
determined it was appropriate at this juncture to evaluate all
opportunities to maximise value for shareholders," Matomy said
in a statement.
There is no set timetable for the review and the company
does not expect to make further comment until the board approves
a specific action or concludes its review.
Matomy also extended the scope of its existing corporate
broking relationship with Canaccord Genuity.
Matomy in February dual-listed on the Tel Aviv Stock
Exchange in addition to London, to make its shares more
accessible to Israeli investors.
The company acquired mobile advertising platform MobFox in
late 2014 and video advertising platform Optimatic late in 2015.
(Reporting by Tova Cohen, editing by Louise Heavens)