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appScatter remains hopeful of completing £13.5mln Priori Data acquisition

Published: 02:57 18 Jun 2018 EDT

two people discussing paperwork
appScatter had originally hoped to complete the takeover by the end of May

App monitoring service AppScatter Group PLC (LON:APPS) still hopes to get its £13.5mln acquisition of German firm Priori Data across the line.

appScatter had initially hoped to complete the takeover by the end of May but it pushed this back to June 15 as it waited on confirmation that investors who took part in a £15mln placing to fund the acquisition were entitled to certain tax benefits.

The deal has yet to go through, although the AIM-quoted company is hopeful it will soon.

“The board of appScatter believes that an agreement between the parties in the near future continues to be achievable and mutually beneficial,” read Monday’s statement.

READ: appScatter beefs up app monitoring services with £13.5mln German acquisition

Berlin-based Priori runs an app data intelligence operation and combined with appScatter’s existing service will enable the performance of millions of apps and billions of devices to be analysed.

The theory is that by combining the data from both companies would enable brands, app publishers, advertising agencies and mobile networks to conduct more targeted demographic campaigns.

“The acquisition would mark a major step forward in our quest to become the go-to source of information in the app ecosystem, in particular given the scarcity of companies with the quantity of data held by Priori,” chief executive Philip Marcella said last month.

“Priori publishers and clients will benefit from wider distribution of their mobile apps across 75 app stores and appScatter clients will benefit from new services including keyword (ASO), app and market intelligence.”

appScatter is raising £15mln through a placing at 70p to help pay for Priori, with £9.45mln of the consideration in cash and £4.05mln in shares.

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