Justin Bunnell, the CEO of AdSupply, which has annual revenue of about $45 million, said in an interview that Adaptive’s video products would fill a gap in the company’s product offerings.
And AdSupply planned to use its own software combined withAdaptive Media’s to block ad blockers, which have become a headache for many publishers. With stock prices having come down, Bunnell expects consolidation to continue.
* Adaptive Medias received an acquisition proposal from private digital advertising technology company AdSupply, Inc., for $35 million, or $1.50 per share.
* The all-cash deal values the firm at a more than 1000% premium to its 14.4-cent closing price
* “Although AdSupply’s acquisition price provides value for Adaptive Medias’ shareholders at a substantial premium to the current market price, thus giving clear recognition to Adaptive Medias’ upside potential,
it is our fiduciary duty to ensure we pursue all other options available to us,” said John B. Strong, chairman and CEO of Adaptive.