The online advertising analytics company, Pureprofile Limited (ASX: PPL), has been placed in a trading halt session state until September 22, 2016, pending a company announcement. PPL is making efforts to raise about $14 million in an institutional placement and another $3 million via a share purchase plan (SPP). This is expected to be used for funding the acquisition of Cohort Group owned by Oceania Capital Partners. This acquisition is said to be worth $18 million with $15 million upfront payment and $3 million in Pureprofile shares, and is said to bring synergy considering complementarity to PPL’s business. The issue price (45 cents a share) has been said to be at a discount of 13.5% to the last traded price and at a 15.6% discount to the 15-day volume weighted average price. The bids for the offer, open to sophisticated and professional investors, were to be received no later than 12 PM (AEST) Wednesday, September 21, 2016.
 

PPL’s Growth Strategy (Source: Company Reports)
 
PPL otherwise reported for a strong start to FY2017 with Q1 revenue expected to grow over $8m. The company also expects its international revenue growth to deliver more than 50% of the group’s revenue in FY2017. Further, Q1 revenue is reported to be up 27% compared to Q1FY2016 and 11% up against Q4FY2016. The company further highlighted that there has been 31% year-on-year growth for its Data & Insights division while 200% year-on-year growth was noted for Adsparc publisher yield optimisation business. Operations in Europe and US continue to be growing stronger.

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