Summary by Futu AI
Collective Audience has completed the acquisition of a 51% controlling interest in DSL Digital, a Marketing-as-a-Service solutions provider, with an exclusive option to acquire the remaining 49% within two years. The all-stock transaction involved issuing 3,242,875 restricted shares, with a 10% holdback provision for 18 months.The acquisition brings DSL Digital's Fortune 500 B2B customer base, proprietary AI-powered AdTech tools, and a 20-member global services team to Collective Audience. DSL Digital's assets will form the foundation for Collective Audience's new AudienceServices group, which has been generating multi-million-dollar profitable revenues with 20% annual growth.The integration will enhance Collective Audience's AudienceCloud ecosystem with DSL Digital's proprietary technology. The company expects substantial revenue growth from the acquisition starting in Q2 2024, with the launch of AudienceServices planned for the coming weeks. A two-year lock-up agreement restricts the seller from transferring company securities, subject to certain exceptions.
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