- XLMedia (XLM), a provider of digital performance marketing, has entered into an agreement to acquire its remaining minority shareholding in Marmar Media for approximately $2.4 million.

The total consideration, payable in cash, is comprised of $2.25 million to be paid immediately and an additional amount representing 46% of Marmar's distributable net profits for 1 January 2017 to 31 July 2017.

Marmar specialises in performance based marketing across the app, software and entertainment verticals.

XLM acquired a 54% stake in Marmar in June 2015 and is now acquiring the remaining 46%.

In the year ended 31 December 2016, Marmar generated revenues and profit before tax of $11.7 million and $2.5 million respectively.

XLMedia said the acquisition would further strengthen the group's media channel growth, enable it to extract additional synergies, run an increased number of campaigns and continue the diversification of the group's revenue and customer base.

At 9:58am: [LON:XLM] XLMedia Plc share price was +0.5p at 140.5p

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