Vitec acquires the software company Bidtheatre
Vitec Software Group AB (publ) strengthens its position in Vertical Market Software on June 3, by acquiring all shares in the Swedish software company Bidtheatre AB. Bidtheatre reported revenue of MSEK 113 for the 2023 financial year.
The software company Bidtheatre develops and delivers a Demand Side Platform (DSP) for programmatic advertising. The product supports advertising procurement in a range of digital channels like banners, audio, video, native and digital out-of-home screens, with advanced audience targeting capabilities. Bidtheatre offers precision advertising in local, national and global publishers’ products, managing the logistics of multiple supplier relations. The company holds a strong position among media agencies in the Swedish and Norwegian markets.
Payment will be in cash and with a convertible debenture with deviation from shareholders' preferential rights in accordance with the authorization from the Annual General Meeting on April 23, 2024. The convertible matures in 36 months and at full conversion will have a dilutive effect on capital of less than 0.1%. The acquisition is expected to yield an immediate increase in earnings per share for Vitec. Consolidation will commence as of the acquisition date.
- Bidtheatre develops and delivers software for advertising. Staying relevant to customers is crucial in today's media landscape. The product helps marketing and media practitioners drive cost-efficient website traffic, engage customers, and build loyalty, says Olle Backman, CEO of Vitec Software Group. He continues: Bidtheatre’s solution operates as the conductor and an intermediary, managing customers’ spend on media (ads). Its corporate culture fits well within Vitec. We are pleased to welcome nine new employees to our team today.
Bidtheatre was founded in 2012 and is based in Stockholm.
- For us, it is crucial to have a long-term owner who is committed to the continued development of the company. I am convinced that together we will continue to develop Bidtheatre for the benefit of our customers today and in the future, says Marcus Johansson, CEO, Bidtheatre.