Team Internet Group (AIM: TIG) announced today it is acquiring Shinez I.O. Ltd for an enterprise value of $41.8 million.
Shinez runs a network of 40 sites, including TravelerDreams.com and OurFashionTrends.com. The company generates traffic outside of Google, including on social media.
Team Internet says the deal will reduce its reliance on Google for ad monetization. On the ad side of its business, Google accounted for $566.9 million of $657.1 million of revenue last year.
Team Internet plc (LON:TIG) – formerly CentralNic – is a global internet solutions group headquartered in London. Leveraging world-class technologies and industry leading teams, they have been transforming the way organisations, brands, publishers and consumers connect and thrive online.