on MGI - Media And Games Invest SE (isin : SE0018538068)
Verve Acquires Jun Group, Boosting Financial Performance
Verve Group SE has announced its acquisition of Jun Group, a mobile-first digital advertising firm. This strategic move is expected to result in combined revenues of €447 million and an adjusted EBITDA of €151 million on a pro forma basis for 2024. The acquisition aims to balance Verve's sales model more evenly between demand and supply sides.
Jun Group's client base includes over 230 Fortune 500 advertisers and agencies. The deal, valued at €170 million, will significantly boost Verve’s size and profitability. This acquisition will also enhance Verve's financial stability, reducing its leverage to 2.4x.
Verve has updated its mid-term financial targets, aiming for a revenue CAGR of 25-30%, an EBITDA margin of 30-35%, and an EBIT margin of 20-25%. The acquisition is expected to close by September 2024, subject to regulatory approvals.
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