TEL AVIV, Oct 18 (Reuters) - Israeli online advertising company Matomy Media Group has launched a review of its business to consider all available options to increase shareholder value, including a possible deal.
The company has hired RBC Capital Markets as its financial adviser to lead the review, but said that no decision has been made to enter into any transaction at this time and there can be no assurance that the review will result in any transaction.
“Notwithstanding the recent progress against strategic milestones and the company’s financial strength, the board determined it was appropriate at this juncture to evaluate all opportunities to maximise value for shareholders,” Matomy said in a statement.
There is no set timetable for the review and the company does not expect to make further comment until the board approves a specific action or concludes its review.
Matomy also extended the scope of its existing corporate broking relationship with Canaccord Genuity.
Matomy in February dual-listed on the Tel Aviv Stock Exchange in addition to London, to make its shares more accessible to Israeli investors.
The company acquired mobile advertising platform MobFox in late 2014 and video advertising platform Optimatic late in 2015. (Reporting by Tova Cohen, editing by Louise Heavens)