Tremor International Ltd, an Israeli advertising-technology company that counts media conglomerate News Corp as a shareholder, has filed for an initial public offering in the US.
The company plans to list on the tech-heavy Nasdaq stock exchange, it said in a disclosure.
The move comes seven years after Tremor listed its shares on the London Stock Exchange’s AIM market in May 2014 and after a jump of nearly fourfold in its share price on the LSE over the past six months.
The company’s revenue has also been growing at a quick pace. Its net revenue doubled to $184 million for 2020 from $91 million for 2017, clocking an annualized growth of 26%. Adjusted earnings before interest, tax, depreciation and amortization for 2020 was $61 million, giving it a profit margin of 33%.
Tremor didn’t specify the amount it planned to raise on the Nasdaq but Israeli business news publication Globes pegged it around $100 million.
Tremor, which is currently valued around $1.5 billion, was founded in 2007 as Marimedia by Maia Shiran and Ariel Cababie. Marimedia acquired Taptica for $13.6 million in October 2014 and changed its name to Taptica.
Taptica bought social marketing tech company AreaOne in September 2015 and a 57% stake in Japan-based Adinnovation for $5.7 million the following year. In 2017, it acquired Tremor Video’s demand-side platform for $50 million and later changed its name to Tremor International.
Tremor acquired RhythmOne for $176 million in 2019 and bought Unruly from News Corp in 2020. News Corp holds a 6.3% stake in Tremor.