Kubient, Inc. (NasdaqCM: KBNT, KBNTW) and Adomni Inc. have entered into a definitive merger agreement, pursuant to which Adomni will merge with and become a wholly-owned subsidiary of Kubient BUT upon closing of the merger, Kubient is expected to change its name to ‘Adomni, Inc.’
Paul Roberts, Kubient’s Founder and Chief Executive Officer, told us “We are very excited about what the combined strength of Kubient and Adomni will bring to the adtech industry, including both advertisers, and publishers. Following an extensive process of searching for the best possible partner, we are very encouraged to have arrived at this proposed merger with Adomni; we believe that Kubient has delivered its promise of providing stockholders with an initiative that brings our proprietary technology further to the forefront of the advertising market. We believe Kubient’s proprietary technology will provide Adomni’s customers with the benefit of enhanced product performance, and advanced solution capability as the company broadens its reach further into global markets”.
The announcement said that the combined company will focus on growing and developing Adomni’s pre-existing programmatic advertising service and platform that delivers high-impact advertising campaigns via 725,000+ connected digital out of home screens across the world.
Jonathan Gudai, Adomni’s Chief Executive Officer said “We are proud to merge the Kubient and Adomni teams, and look forward to rolling out our growth strategy as a combined entity. Kubient’s team and tech stack is an excellent fit with our business and we believe it will play an important role in our overall growth strategy to broaden market diversification and extend the development of our platforms. By combining our platform for Digital-Out-Of-Home with Kubient’s leadership team and knowledge in the realms of online digital advertising and connected television, we believe we can bring these elements together and deliver a truly omni-channel advertising and content experience”.
The Merger has been unanimously approved by the board of directors of each company and is expected to close in the second half of 2023.
Lake Street Capital Markets LLC is acting as the exclusive financial advisor and Akerman LLP is serving as legal counsel to Kubient. Perkins Coie LLP is serving as legal counsel to Adomni.