Singapore Telecommunications Limited Acquires Amobee, Inc. And Incorporates Acorn Acquisition Corp.

Singapore Telecommunications Limited announced that it has entered into a conditional agreement to acquire 100% of the share capital of Amobee, Inc. (Amobee), a corporation organised under the laws of Delaware, USA (the Transaction). In this connection, the Company has formed a wholly owned subsidiary, Acorn Acquisition Corp. (Acorn), a corporation organised under the laws of Delaware, USA, for the purposes of effecting the Transaction. Acorn has an issued and paid-up capital of USD 1. The aggregate consideration for the Transaction is approximately USD 321 million. Amobee is a provider of mobile advertising offering solutions to operators, publishers and advertisers globally.