London-listed adtech group Tremor explores sale
The London-listed advertising technology company whose directors include Rebekah Brooks, the boss of The Sun newspaper’s publisher, has kicked off talks that could lead to it being sold.
Sky News has learnt that Tremor International, whose shares have halved in the last 12 months, is working with bankers at Goldman Sachs to solicit takeover interest.
The process is at an early stage and might not lead to any formal offer being made for the company, according to insiders.
It was unclear on Tuesday evening whether any potential buyers had initiated discussions with Tremor’s board.
The development comes days after Tremor withdrew two pay-related resolutions at its annual meeting amid unrest from some of its largest shareholders.
Investors in the company have long been unhappy at its weak share price performance.
Tremor now has a market capitalisation of just under £400m despite having struck an earnings-accretive deal earlier this year to acquire Amobee, a California-based peer.
The company provides digital advertising solutions to clients such as Amazon, Disney and Twitter.
Shares in Tremor closed on Tuesday afternoon at 275p.
A Tremor spokesman declined to comment.
