technology innovations, which will amplify both listener and brand experiences foron-demand media via smart home and other connected devices.”
The consideration paid by Veritone in the transaction was $6.0 million, plus a contingentearn-out of up to $5.0 million based on Performance Bridge Media’s revenues for calendar year 2018, with such consideration being payable primarily in Veritone common stock.
About Performance Bridge Media
Performance Bridge Media was founded in 2002 and is comprised of a team of customer acquisition experts who have been building digital customer acquisition programs for decades. The Company helps achieve client goals utilizing a variety of tactics and channels, including influencer marketing, streaming audio/radio, social media, contextual and programmatic display, affiliate marketing, content marketing, digital OOH & paid search, while applying the guiding philosophy of Test, Learn, Scale. The Company’s success is solely determined by its proven ability to grow each clients’ business.
About Veritone One
Veritone One is a full-service advertising agency providing media planning, media buying and creative development across broadcast, digital and social media. Headquartered in Costa Mesa, Calif., Veritone One is a subsidiary of Veritone, Inc.
About Veritone
Veritone (NASDAQ: VERI) has created the world’s first operating system for artificial intelligence. Veritone’s aiWARE operating system leverages the power of cognitive computing to transform and analyze audio, video and other data sources in an automated manner to generate actionable insights. The Veritone platform provides customers ease, speed and accuracy at low cost. Veritone has been among the first to berecognized by AWS for Machine Learning Expertise, and has beenrecognized by Oracle for Excellence in Application Development. To learn more, visitVeritone.com and interact with us onTwitter andLinkedIn.
Safe Harbor Statement
This news release contains forward-looking statements, including without limitation statements regarding the acquisition of Performance Bridge Media and the expected timing of closing the transaction, the expected market share of the combined company, howVeritone One plans to leverage Performance Bridge Media’s capabilities in its business, and the expected benefits of the acquisition toVeritone One and its clients. Without limiting the generality of the foregoing, words such as“may,”“will,”“expect,”“believe,”“anticipate,”“intend,”“could,”“estimate” or“continue” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Assumptions relating to the foregoing involve judgments and risks with respect to various matters which are difficult or impossible to predict accurately and many of which are beyond the control ofVeritone. Certain of such judgments and risks are discussed inVeritone’s SEC filings. AlthoughVeritone believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation byVeritone or any other person that their objectives or plans will be achieved.Veritone undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contacts:
Veritone Public Relations Contact:
RAISE Communications
Cari Sommer, 646.480.6783
cari@raisecg.com
