Uber lawsuit settlement

RNS Number : 4658I

Tremor International Ltd

14 December 2020

 

THE INFORMATION COMMUNICATED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.  

14 December 2020

Tremor International Ltd

("Tremor"  or the "Company")

Uber lawsuit settlement

Tremor International Ltd (AIM: TRMR), a global leader in video advertising technologies, announces that it has reached an agreement to settle the complaint brought about by Uber Technologies, Inc. ("Uber") filed in the Superior Court of the State of California on 11 June 2019, against Taptica Ltd. and Taptica Inc. ("Taptica"), t he Company's legacy performance marketing business.

Taptica was one of a number of performance marketing companies against which the complaint was filed, and there has not been any court finding as to wrongdoing by the Company or indeed the merits of the lawsuit. The Company has made no admission of any liability or wrongdoing. However, in order to resolve the matter in a timely manner and avoid the significant expense and burden associated with a drawn out litigation process, Tremor's board of directors believe it is the best interest of the Company and its stakeholders to enter into a settlement agreement with Uber. Therefore, Tremor will pay a total of $1.7 million to Uber, which will result in the full dismissal of the case.

For further information please contact:

Tremor International Ltd Ofer Druker, Chief Executive Officer Sagi Niri, Chief Financial Officer	via Vigo Communications
finnCap Ltd Jonny Franklin-Adams / James Thompson (Corporate Finance) Tim Redfern / Dicky Chambers (ECM)	Tel: [phone]
Stifel Nicolaus Europe Limited Fred Walsh Alain Dobkin Nick Adams Richard Short	Tel: [phone]
Vigo Communications Jeremy Garcia Antonia Pollock Charlie Neish	Tel: [phone]

About Tremor International

Tremor International Ltd is a global leader in advertising technologies, it has three core capabilities: Video, Data and CTV, and our unique approach is centred on offering a full stack end-to-end solution which provides the Company with a major advantage in the marketplace. 

Tremor Video helps advertisers deliver impactful brand stories across all screens through the power of innovative video technology combined with advanced audience data and captivating creative content. Tremor Video is one of the largest and most innovative video advertising companies in North America and globally, with offerings in CTV, in-stream, out-stream and in-app.

The media side of Tremor, Unruly, drives real business outcomes in multiscreen advertising. Its highly ranked programmatic platform efficiently and effectively delivers performance, quality, and actionable data to demand and supply-focused clients and partners. Tremor has a meaningful number of direct integrations with publishers, unique demand relationships with the world's biggest advertisers and privileged access to News Corp inventory. Unruly works with 95% of the AdAge 100 and 82% of video views are delivered across Comscore 1,000 sites.

Tremor International Ltd is headquartered in Israel and maintains offices throughout the US and Canada, Europe, Asia-Pacific and Australia and is traded on the London Stock Exchange (AIM: TRMR).

 

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