Philip Marcella, CEO of appScatter Group plc commented:
“I am pleased today to release our 2018 annual report, with our investment into the appScatter platform and the completion of the two strategic acquisitions, we have built the foundations for our goal to build a combined single platform for app publishers and developers. As a result of last years’ progress we were able to announce the proposed acquisition of Airpush Inc., if approved by shareholders the new enlarged group will have 1.8 M registered users and a single platform to build, distribute, secure and monetise apps whilst having the market intelligence to truly promote apps to the correct audience. I would like to thank all our new partners and staff for their support”
appScatter Group plc (LON:APPS), the app management and data intelligence platform, today announced its audited results for the year ended 31 December 2018.
2018 Highlights:
· Completion of the acquisition of Priori Data GmbH for £10.6 million, enhancing the capabilities of the Group to provide market leading, data-led app insights.
· Completion of the acquisition of Abilott Limited for £0.8 million initial consideration, enabling the Group to increase its offering of security products and improve margins.
· Strategic partnerships concluded with Dow Jones, Iron Source and IHS.
· £6.6 million in cash raised, £2.0 million of which was used to fund the cash element of Priori & Abilott acquisitions. Funds were raised at a significant premium to the prevailing market price.
· Operating cash flow improved by £2 million to an outflow of £6.2 million, down from £8.2 million in 2017.
· Advisory board established to further support the plc board in enhancing appScatter’s offering and opportunities.
Post period highlights
· Announced the intention to acquire the entire issued share capital of Airpush Inc, a US registered company with worldwide operations. This transaction will enable the Group to dramatically increase its revenues from the new 1.8M registered users across the Airpush group, improve the quality and range of data including data from 250 million devices and 400,000 apps all of which will complement the current 11 million apps tracked daily and the audience data from 3.5 billion devices.
· Work on the Airpush acquisition is well underway and we expect to be able to convene a meeting of appScatter shareholders to consider and if thought fit, approve the deal following publication of the Admission Document.
· New partnerships include working with Bango Plc to give our developers access to audiences more likely to make-in app purchasing and appScatter Japan the new JV with inter-arrows.
