Entravision Communications Corp (NYSE:EVC) continues to move higher in the pee-market session. The stock has soared 21% over the past month.
Market Reaction
As of 8:14, EVC is up 0.42% to $4.81 with 1K shares traded hands.
Major Trigger:
Entravision Communications Corporation Expands Global Digital Footprint Through Acquisition of Leading Digital Marketing & Advertising Company MediaDonuts
Key Highlights:
- announced that the Company has entered into a definitive agreement to acquire MediaDonuts, a leading digital marketing performance and branding company with operations across seven countries in the Asia-Pacific region. For over a decade, MediaDonuts has helped its customers achieve their performance and branding goals across digital media channels. The acquisition is anticipated to close on or around July 1, 2021.
- Founded in 2010, MediaDonuts offers extensive digital advertising capabilities through its strategic partnerships with major global media and technology platforms. Headquartered in Singapore, MediaDonuts serves more than 500 technology and consumer brand clients.
- Entravision’s acquisition of MediaDonuts is the next key step in the Company’s plan to become a leading marketing technology service provider in the world’s highest growth economies. Southeast Asia represents a company milestone, as Entravision will be tapping into a new consumer market that represents nearly 700 million people, 400 million of which are digitally connected.
Key Quote:
“We are thrilled to announce our acquisition of MediaDonuts,” said Walter Ulloa, Chairman and Chief Executive Officer of Entravision. “This acquisition is a natural fit with the overall digital and global transformation strategy of our business. Entravision has always focused on providing advertising solutions in high growth markets and partnering with the strongest media and technology platforms in the world. We believe that the incorporation of MediaDonuts into the Entravision platform adds leadership, sales operations and digital offerings that will further propel our digital efforts.”
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