Use our mobile site at: m.ITbriefing.net    Follow ITbriefing.net: Follow ITbriefing on Twitter   Follow ITbriefing via Facebook   Follow ITbriefing via RSS 
Nexstar Media Group to Acquire Leading Digital Video Advertising Infrastructure Platform, LKQD Technologies, for $90 Million in Accretive Transaction


 Tags:   News: Cameras & Photography                This was published: 7 Dec 2017 - 12:26 pm         Print article: Printer friendly page
          

Nexstar Media Group to Acquire Leading Digital Video Advertising Infrastructure Platform, LKQD Technologies, for $90 Million in Accretive Transaction - on DefenceBriefing.net

Nexstar Media Group, Inc. (NASDAQ-NMS: NXST) (“Nexstar” or the “Company”) announced today that it entered into a definitive agreement to acquire LKQD Technologies (“LKQD”), a leading independent video advertising infrastructure company, for approximately $90 million cash, subject to working capital and other adjustments including a minimum cash balance of $10 million, and a contingent earn out payment based on LKQD’s performance at the end of two years under Nexstar’s ownership. The transaction is expected to be immediately accretive to Nexstar’s operating results and free cash flow, does not materially alter the Company’s leverage position and will be financed with cash generated from operations and funds provided by the Company’s revolving credit facility.



Founded in 2014 by industry veterans, LKQD Technologies’ video advertising platform has the largest reach in the US to viewers across digital devices, (comScore Video Metrix®, Video Ad Ecosystem rankings, August, 2017). The acquisition of LKQD substantially broadens and diversifies Nexstar Digital’s portfolio with industry-leading, brand safe systems and technologies that are complementary to its current offerings of leading digital solutions and services for media publishers, and compelling and effective multi-platform marketing solutions for local and national advertisers.

LKQD provides enterprise digital video advertising technology infrastructure for publishers and advertisers on all screens reaching approximately 115 million US online video viewers across desktop, mobile-web, mobile-app and connected TVs. Designed for flexibility, scalability and speed, LKQD’s Infrastructure as a Service (IaaS) technology provides end-to-end systems for ad serving, mediation, programmatic auctions and advanced reporting— allowing publishers to book, manage, optimize and track their operations in real-time from one dashboard.

LKQD’s large-scale, diversified video supply combined with Nexstar's robust audience reach across 170 stations and 100 U.S. markets and significant hyper-local digital/ mobile platforms, will create new video opportunities which will allow Nexstar's advertising clients to target their customers across both the television and digital video landscapes. Over the past twelve months LKQD expanded its technology to meet increasing demand for its products and solutions among digital publishers, media partners and advertisers. As a result, in the first half of 2017, LKQD tripled the number of customers using its platform and generated year-over-year gross revenue growth of 180%, outpacing overall video advertising industry revenue growth by approximately 8x.

Perry A. Sook, Chairman, President and Chief Executive Officer of Nexstar added, “Our acquisition of LKQD is consistent with our long-term strategic and financial growth objectives for Nexstar Digital as we unify, expand and invest in our technology platform to optimize results for our clients, while developing new revenue opportunities. By adhering to our disciplined acquisition and integration criteria, we are acquiring the leading, fast-growing, profitable, online video advertising business at an attractive, accretive valuation. Looking ahead, we continue to evaluate additional digital investments and select accretive transactions to drive the next phase of growth and success for Nexstar Digital.”

Gregory R. Raifman, President of Nexstar Digital, commented, “The acquisition of LKQD significantly strengthens and expands Nexstar Digital’s product offerings with flexible and scalable end-to-end technology infrastructure systems that enable cross-device ad delivery with multi-dimensional analytics and reporting— giving buyers and sellers the power to efficiently reach audiences across all screens and devices. LKQD’s rapidly growing revenue, expanded client base and market-leading enterprise video ad technology infrastructure are key differentiators and represent an excellent strategic fit with Nexstar Digital’s leading local digital marketing tools, content monetization solutions and digital agency services.

“Importantly, in an environment where brands and ad buyers are rightfully concerned with online ad safety, LKQD’s inventory is among the highest quality in the ecosystem. This focus results in industry-leading metrics with respect to mitigating fraudulent traffic and ensuring brand safety. LKQD brings to Nexstar Digital a leading, fast-growing, profitable, online video advertising business that will enable us to further improve our competitiveness with other media and deliver more brand safe solutions to advertisers and brands.”

Senior members of the LKQD management team, including CEO and Co-Founder Brian DeFrancesco and CTO and Co-Founder Christophe Clapp, have entered into employment agreements with Nexstar and LKQD will continue to operate its growing business as a division of Nexstar Digital.

Brian DeFrancesco, CEO of LKQD stated, “This is a win-win for clients on both sides, as Nexstar’s suite of local and national digital marketing products, content monetization solutions and digital services combined with LKQD’s end-to-end digital video advertising infrastructure technology, will allow small and mid-sized media publishers and businesses to maximize revenues across every available channel. Nexstar Digital has a strong position in the rapidly growing digital media and advertising technology market and we are excited to join their team as Nexstar’s resources and expertise will help power LKQD’s next phase of growth as we continue to expand our brand, technology capabilities and market presence."

The transaction is expected to close late in 2017 or the first quarter of 2018 and is subject to Hart-Scott-Rodino (HSR) approval and other customary closing conditions.

Article source - Business Wire, all right reserved. Copyright 2017
Trademarks, logos, pictures and other items may be copyright of firms mentioned in this article.




Further information:
Organisation name:    Nexstar Media Group, Inc.
Organisation stock symbol: NASDAQ:NXST


Latest stock price data for NASDAQ:NXST

 


Other related articles, tagged News: Cameras & Photography

· Tempo Grows Revenue by 38% in 2017 to $17.9 Million   (02/19/18)
· Accenture Completes Acquisition of Mackevision   (02/19/18)
· GSMA Announces Winners of Inaugural Mobile World Scholar Challenge   (02/19/18)
· Customers of Palau Telecoms to Enjoy ‘Always On’ Connectivity with SES Networks   (02/19/18)
· COSIMO Ventures Commits to $3 Million Seed Investment in Oneiro Ltd., a Blockchain and Cryptocurrency Innovation Technology Company   (02/19/18)
· Sopra Steria Turns in a Solid Performance in 2017   (02/19/18)
· WCG to Hold Regional Qualifying Rounds from First Edition   (02/19/18)
· Mechanical Computer-aided Design Market - High Adoption of Cloud-based PLM Solutions in APAC to Boost Growth | Technavio   (02/17/18)
· Global Gaming Market - Growing Adoption of VR and AR Technologies to Boost Growth | Technavio   (02/17/18)
· Key Findings of the Global Cloud Encryption Market | Technavio   (02/17/18)

>>>More articles  >>>

Latest tech videos:



· Tempo Grows Revenue by 38% in 2017 to $17.9 Million (2018-02-19 11:26)
Tempo Grows Revenue by 38% in 2017 to $17.9 Million - on DefenceBriefing.net

Tempo, creator of efficiency-enhancing project management software solutions for Atlassian’s Jira platform, announced strong results for its 2017 fiscal year ending December 31, 2017.


· Accenture Completes Acquisition of Mackevision (2018-02-19 09:26)

Accenture (NYSE: ACN) has completed the acquisition of Germany-based Mackevision, a leading global producer of 3D-enabled and immersive product content.


· GSMA Announces Winners of Inaugural Mobile World Scholar Challenge (2018-02-19 09:26)
GSMA Announces Winners of Inaugural Mobile World Scholar Challenge - on DefenceBriefing.net

The GSMA today announced the winners of its inaugural Mobile World Scholar Challenge. New for Mobile World Congress 2018, the Mobile World Scholar Challenge is a video-based competition designed to discover and highlight ground-breaking new technologies developed at universities around the globe.


· Customers of Palau Telecoms to Enjoy "Always On" Connectivity with SES Networks (2018-02-19 08:06)
Customers of Palau Telecoms to Enjoy ‘Always On’ Connectivity with SES Networks - on DefenceBriefing.net

Customers of Palau’s local internet services provider Palau Telecoms will continue to enjoy enhanced and reliable fibre-like connectivity delivered by SES Networks.


· COSIMO Ventures Commits to $3 Million Seed Investment in Oneiro Ltd., a Blockchain and Cryptocurrency Innovation Technology Company (2018-02-19 07:26)
COSIMO Ventures Commits to $3 Million Seed Investment in Oneiro Ltd., a Blockchain and Cryptocurrency Innovation Technology Company - on DefenceBriefing.net

COSIMO Ventures, an investment firm with offices in Boston and Dublin that’s focused on transforming promising deep technology companies into global industry leaders, is pleased to announce that it's committed $3 million for a seed investment in Oneiro Ltd., a new developer of technology innovations in blockchain and cryptocurrency.


· Sopra Steria Turns in a Solid Performance in 2017 (2018-02-19 06:26)
Sopra Steria Turns in a Solid Performance in 2017 - on DefenceBriefing.net

Regulatory News:


· WCG to Hold Regional Qualifying Rounds from First Edition (2018-02-19 04:46)
WCG to Hold Regional Qualifying Rounds from First Edition - on DefenceBriefing.net

WCG Inc. announced that it has decided to hold regional qualifying rounds from the first edition and expand the scope of participation. It said that it would fix the schedule of the games in the near future.


· Mechanical Computer-aided Design Market - High Adoption of Cloud-based PLM Solutions in APAC to Boost Growth | Technavio (2018-02-17 16:26)
Mechanical Computer-aided Design Market - High Adoption of Cloud-based PLM Solutions in APAC to Boost Growth | Technavio - on DefenceBriefing.net

The global mechanical computer-aided design (MCAD) market is expected to grow at a CAGR of more than 7% during the period 2018-2022, according to a new market research study by Technavio.


· Global Gaming Market - Growing Adoption of VR and AR Technologies to Boost Growth | Technavio (2018-02-17 15:46)
Global Gaming Market - Growing Adoption of VR and AR Technologies to Boost Growth | Technavio - on DefenceBriefing.net

Technavio’s latest market research report on the global gaming market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.


· Key Findings of the Global Cloud Encryption Market | Technavio (2018-02-17 15:06)
Key Findings of the Global Cloud Encryption Market | Technavio - on DefenceBriefing.net

The latest market research report by Technavio on the global cloud encryption market predicts a CAGR of close to 35% during the period 2018-2022.


· Intel Announces David Pottruck to Retire from Board of Directors (2018-02-16 22:26)

Intel Corporation today announced that David S. Pottruck informed the company that he will not stand for re-election to Intel’s Board of Directors at Intel’s 2018 Annual Stockholders’ Meeting. Pottruck, a member of the Board since 1998, will continue to serve as a director until the expiration of his current term at the 2018 Annual Stockholders’ Meeting.


· Mojo Networks to Present at Wireless LAN Professionals Conference (2018-02-16 22:06)
Mojo Networks to Present at Wireless LAN Professionals Conference - on DefenceBriefing.net

Mojo Networks, inventor of Cognitive WiFi™ and one of the world’s leading Cloud WiFi solution providers, will be represented with four separate speaking slots at the 2018 Wireless LAN Professionals Conference in Phoenix, Arizona, held February 20-22, 2018. The annual conference is a vendor-neutral event focused on offering WLAN professionals the opportunity to share knowledge and resources about the industry and its current challenges.


· S&P Global Ratings360™ to Include Cyber Risk Insights from Guidewire Software"s Cyence Risk Analytics (2018-02-16 21:46)
S&P Global Ratings360™ to Include Cyber Risk Insights from Guidewire Software’s Cyence Risk Analytics - on DefenceBriefing.net

S&P Global Ratings, a division of S&P Global Inc. (NYSE: SPGI) and Guidewire Software, Inc. (NYSE: GWRE), today announced they have joined forces to bring the cyber risk knowledge and insights of Guidewire Cyence Risk Analytics™ to S&P Global Ratings360™, a digital delivery system that provides a view of a company’s critical credit risk factors.


· Cable ONE to Host Conference Call to Discuss Fourth Quarter and Full Year 2017 Results (2018-02-16 21:46)
Cable ONE to Host Conference Call to Discuss Fourth Quarter and Full Year 2017 Results - on DefenceBriefing.net

Cable One, Inc. (NYSE: CABO) will host a conference call with the financial community to discuss results for the fourth quarter and full year 2017 on Thursday, March 1, 2018 at 11 a.m. Eastern Time (ET). Cable ONE will issue a press release reporting its results before market open on Thursday, March 1, 2018.


· Verisign Announces 3.25% Junior Subordinated Convertible Debentures Due 2037 to Pay Contingent Interest (2018-02-16 21:26)
Verisign Announces 3.25% Junior Subordinated Convertible Debentures Due 2037 to Pay Contingent Interest - on DefenceBriefing.net

VeriSign, Inc. (NASDAQ-NMS: VRSN), a global leader in domain names and internet security, announces that the upside trigger on its 3.25% junior subordinated convertible debentures due 2037 (CUSIP No. 92343EAD4) (the “Notes”) has been met for the six-month interest payment period from Feb. 15, 2018, to Aug. 14, 2018. As a result, contingent interest will be paid on the Notes for that six-month interest payment period. Contingent interest of approximately $10.1 million on the $1.25 billion outstanding principal amount of the Notes, or approximately $8.0728 per $1,000 principal amount of the Notes, will be paid on Aug. 15, 2018, to the holders of record as of Aug. 1, 2018.


· Travel Video Awards to Debut at 2018 NAB Show (2018-02-16 20:26)
Travel Video Awards to Debut at 2018 NAB Show - on DefenceBriefing.net

The Travel Video Awards (TVAs) will debut at the 2018 NAB Show on April 11 in Las Vegas. Created by Citizine Networks, Inc., the awards honor innovative and inspiring travel videos released in 2017 by independent filmmakers, the travel industry, media companies and lifestyle brands.


· Intelsat Announces 2017 Fourth Quarter and Full-Year Earnings Conference Call (2018-02-16 20:26)
Intelsat Announces 2017 Fourth Quarter and Full-Year Earnings Conference Call - on DefenceBriefing.net

Intelsat S.A. (NYSE: I), operator of the world’s first Globalized Network and a leader in integrated satellite communications, will hold a conference call and webcast on Monday, February 26, 2018 at 8:30 am EDT to discuss 2017 fourth quarter and full-year financial results.


· Robert Lacroix Joins Directed as Vice President of Engineering (2018-02-16 20:26)
Robert Lacroix Joins Directed as Vice President of Engineering - on DefenceBriefing.net

Directed, a leader in the automotive aftermarket and connected car space, announced today that technology veteran Robert Lacroix has joined the company as Vice President of Engineering. Lacroix will lead Directed’s global engineering team from its Lachine (Montreal), Quebec office. He will help drive Directed’s aggressive growth plans in connected car products and services.




© Website copyright Incandore Limited 2012. All rights reserved. All content copyrights / trademarks remain the property of their respective owners.