Otello To Sell AdColony To Digital Turbine - Quick Facts

(RTTNews) - Otello has agreed to sell AdColony to Digital Turbine, Inc. (APPS) for a total estimated consideration of $400 million, including a normalized amount of working capital and $19 million in cash.

Bill Stone, CEO of Digital Turbine, said: "We look forward to welcoming the AdColony team to the Digital Turbine family and believe that this strategic transaction accelerates our growth and is a positive for our partners, advertisers, employees and shareholders. With the addition of AdColony, we will expand our collective experience, reach and suite of capabilities to benefit mobile advertisers and publishers around the globe."