10th Feb 2015 11:51
LONDON (Alliance News) - XLMedia PLC Tuesday confirmed, following press speculation, that it is evaluating a few potential acquisition targets, including TLV Media Online Ltd.
The company noted that negotiations with TLV and others are in early stages, and there is no certainty that any transaction will be completed, or on what terms. Israeli-based TLV operates an digital advertising platform.
XLMedia said it is actively pursuing additional acquisitions to use its strong cash flow and funds it raised in its initial public offering in March 2014.
TLV Media is reported to have had an earnings before interest, tax, depreciation and amortisation of USD2.8 million for 2013, on revenue of USD19 million, XLMedia said.
Shares in XLMedia are trading up 4.7% at 64.68 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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