September 05, 2017
Torys is representing RhythmOne with a team that includes John Emanoilidis, Mile Kurta, Michael Horwitz, Jason Zhou, Alice Lin and Giancarlo Ruscio (M&A), David Mattingly and Ari Feder (tax) and Chris Caparelli (anti-trust).
On September 5, 2017, RhythmOne plc (“RhythmOne”) announced that it entered into a definitive agreement with YuMe, Inc. (“YuMe”) to acquire all its issued and to be issued share capital, creating one of the largest independent digital video advertising marketplaces. Under the terms of the agreement, YuMe shareholders will receive US$1.70 per share in cash and 7.325 shares in RhythmOne stock which equates to a total consideration of approximately US$185 million.
The acquisition is conditional on YuMe stockholders tendering at least a majority of the issued and outstanding YuMe shares. It is also subject to other conditions customary for transactions of this nature and requires clearance by the relevant competition authority, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
The transaction is expected to close by Q1 2018.
RhythmOne is a technology-enabled digital media company that connects online audiences with brands through premium content across devices.
YuMe is a proven partner for video advertising leadership and innovation, reaching valuable, data validated audiences on any connected TV or digital screen with programmatic brand advertising solutions that increase brand favorability and sales.
Further information can be found on BusinessWire’s website.