Update re Uber lawsuit and Proposed Share Buy Back

RNS Number : 9315B

Taptica International Ltd

12 June 2019

 

12 June 2019

Taptica International Ltd 

("Taptica" or the "Company") 

Update re Uber lawsuit and Proposed Share Buy Back

Taptica International Ltd (AIM: TAP), a global leader in advertising technologies for brand advertising and performance-based mobile marketing, provides the following update in relation to the lawsuit filed by Uber Technologies Inc. ("Uber"):

In October 2014, Taptica, alongside a number of other adtech vendors, was retained by Fetch Media Ltd. ("Fetch") to promote Uber's mobile app (the "Uber Campaign"). There was no direct engagement between Uber and the Company or any of its subsidiaries.

Overall, thousands of campaigns ran with Fetch directly liaising with Taptica on a daily basis. As is standard in our business, at the end of each month, reconciliation reports were sent by Taptica to Fetch and the final invoiced amounts were approved by Fetch.

The revenue associated with the Uber Campaign directly relating to the Company does not represent a material portion of Taptica's revenue.

The relationship between Uber and Fetch has been troubled as evidenced by their litigation history and Fetch has even characterized Uber as a "faithless business partner" in the publicly available court documents.

The Company reiterates that it considers the claims to be without merit and, as such, Taptica Ltd. and Taptica, Inc. will aggressively defend against these claims.

Proposed Share Buyback Programme

In addition, the Board is actively considering implementing a further share buy back programme following the Company's Annual General Meeting with the same parameters as the current ongoing programme.

For further information please contact: 

Taptica International Ltd Ofer Druker, Chief Executive Officer Yaniv Carmi, Chief Financial Officer	via Vigo Communications
finnCap Ltd (Nominated Adviser) Corporate Finance - Jonny Franklin-Adams, James Thompson, Hannah Boros ECM - Tim Redfern, Richard Chambers	Tel: [phone]
Vigo Communications (Financial Public Relations) Jeremy Garcia Antonia Pollock Charlie Neish [e-mail]	Tel: [phone]

About Taptica

Taptica International Ltd is a global leader in advertising technologies, operating in more than 70 countries. It has three core divisions: Tremor Video DSP (brand advertising), Taptica (performance advertising) and a Media division.

Tremor Video DSP helps advertisers deliver impactful brand stories across all screens through the power of creative video intelligence-innovative video technology combined with advanced audience data and captivating creative. Tremor Video is one of the largest and most innovative video advertising companies in North America, with offerings in CTV, influencer marketing, and private marketplaces.

The Taptica performance business is an end-to-end mobile technology advertising platform that helps the world's top brands reach their most valuable users with the widest range of traffic sources available today. Its proprietary technology leverages big data to target quality media at scale. It works with more than 600 advertisers including Amazon, Alibaba, Bytedance, Netmarble, Stubhub and OpenTable.

Taptica International Ltd is headquartered in Israel and maintains offices in the US and Canada, Asia-Pacific, Europe, India, and Latin America, and is traded on the London Stock Exchange (AIM: TAP).

 

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