Perk acquired by RhythmOne
On January 19, 2017, Perk Inc. ("Perk") closed the plan of arrangement under section 182 of the Business Corporations Act (Ontario) in which RhythmOne plc ("RhythmOne") acquired Perk in an all-stock transaction valued at approximately US$42.5 million.
Pursuant to the arrangement, which was signed on December 5, 2016 and approved by the Ontario Superior Court (Commercial List) on January 16, 2017, RhythmOne acquired, through its wholly-owned subsidiary, RhythmOne (US) Holding, Inc., all of the issued and outstanding common shares and class A restricted voting shares of Perk and shareholders of Perk received 4.5116 ordinary shares of RhythmOne for each Perk share held. An aggregate of 88,235,410 RhythmOne shares were issued under the arrangement.
With the completion of the arrangement, it is expected that the common shares of Perk will be de-listed from the Toronto Stock Exchange on or about January 20, 2017.
Perk's Rewarded Engagement Platform brings together the interests of advertisers and consumers to deliver profound insights and actionable results. With Perk, brands form deep connections with consumers to achieve greater engagement, loyalty, and conversion.
RhythmOne is a technology-enabled digital media company that connects online audiences with brands through premium content across devices.
Further information can be found on RhythmOne's website.