NEEDHAM, MA, Oct. 29, 2013 (GLOBE NEWSWIRE) -- FOR IMMEDIATE RELEASE
Media Contacts:
Extreme Reach
Neil Kornstedt
Director of Communications
(206) 686-1059
nkornstedt@extremereach.com
Extreme Reach's Acquisition of DGIT's TV Business Clears Antitrust Review
NEEDHAM, MA, October 29, 2013 - Extreme Reach, Inc., a leading video platform for integrated TV, online and mobile advertising, announced today that its acquisition of the TV business of Digital Generation, Inc. (NASDAQ: DGIT) for $485 million in cash has cleared antitrust review by the FTC. The company has received notification that early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, has been granted with respect to the proposed acquisition of the TV business of Digital Generation, Inc.
In August 2013, Extreme Reach announced its plans to acquire all of DGIT's TV-centric business units, (collectively called Video Fusion) including DG's broadcast distribution and production services businesses. Once the transaction is complete, DGIT will no longer offer broadcast-related services.
John Roland, CEO of Extreme Reach said, "Now that this acquisition has cleared the FTC, we're a major step closer to fulfilling our aggressive growth plans and vision. Our platform is the first to enable advertisers and agencies to seamlessly leverage video advertisements across every screen. When completed, the acquisition will help us transform the workflow and measurement of multi-screen campaigns for more advertising clients."
The completion of the transaction is subject to approval by DGIT's shareholders, as well as the satisfaction or waiver of the other closing conditions specified in the proposed agreement. The transaction is expected to close in the first quarter of 2014.
About Extreme Reach
Extreme Reach is a leading provider of cross-media video
advertising solutions that span TV, online, mobile and all other
video media. The Extreme Reach video platform enables the seamless
management, delivery and measurement of multi-screen advertising
campaigns. The company's cross-media video ad delivery network is
the largest in the world. More than 3,000 advertisers and agencies
look to Extreme Reach to connect and simplify their video
advertising. The company is headquartered in Needham, Mass., with
offices in New York, Chicago, Burbank, Detroit, Toronto, San
Francisco, Dallas, Seattle and Louisville. Extreme Reach is one of
America's 200 fastest growing private companies (#171, Inc. 500,
2013).
For more information, visit the Extreme Reach
website: extremereach.com.
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