MGI - Media and Games Invest SE: Rebranding as "Verve" Planned Subject to Approval by the AGM 2024 - Marking Successful Transformation into a Fast-Growing Digital Media-Company
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MGI - Media and Games Invest SE: Rebranding as "Verve" Planned
Subject to Approval by the AGM 2024 - Marking Successful
Transformation into a Fast-Growing Digital Media-Company
May 14, 2024 (08:30 CEST) - MGI - Media and Games Invest SE
("MGI" or the "Company", ISIN: SE0018538068; ticker M8G; Nasdaq
First North Premier Growth Market and Scale Segment Frankfurt
Stock Exchange) announces that it will change its name to Verve.
The name change marks the successful completion of MGI's
transformation into a leading digital media company. Verve is a
leading AI-driven ad-software platform delivering effective and
efficient solutions for brands, agencies and media suppliers.
Now, being a fast-growing integrated media company, it is a
logical next step to start acting under the single "Verve" brand,
with a clear mission and roadmap. The company is now a perfectly
positioned and future-focused integrated media company with
strong double-digit annual revenue and EBITDA growth potential in
the coming years. Management emphasizes that the strong
performance in the past months is just the start of a continuous
growth-path - backed not only by a positive advertising cycle but
also as by a growing customer base and a value-adding technology.
Based on the shareholders' consent at the AGM on June 13, 2024,
the company will start using "Verve" as its brand and will
formally register as Verve Group SE.
Remco Westermann, CEO of MGI, commented, "Our new brand, Verve,
represents our successful transformation into a media company. We
have built an AI-based platform to perfectly match media-demand
and supply, rapidly expanded our customer base, increased cost
efficiency, focused teams on growth and developed new products to
achieve consistent double-digit growth. Verve is a company with a
clear focus on growth. We will continue to pursue our mission of
"Let's Make Media Better" under the unified single brand "Verve".
We are enabling better outcomes with responsible advertising
solutions in emerging channels by focusing on innovative,
data-based, and AI-driven targeting solutions and strategic
partnerships. The rebranding will support and go hand-in-hand
with our goal to also strongly expand our direct partnerships
with brands and agencies, while further improving our already
strong supply side, enabling the company to continue to deliver
strong double-digit growth in the coming years."
Completing the Transformation to a Media Company and Getting
Closer to Advertisers and Agencies
Over the past years, MGI has strategically shifted its focus
towards becoming an integrated digital media company, operating a
fast-growing, profitable ad-software platform that matches global
advertiser demand with publisher ad-supply while having a strong
competitive advantage based on data and AI. The rebranding is a
logical next step within this transformation. Based on the
advertising part already working with the brand Verve Group, it
makes sense to now introduce the Verve brand for the entire
company, emphasizing today's as well as future focus of the
company.
By unifying its brand identity, MGI aims to streamline its
positioning and product offering and present a single face to
clients, partners, and the capital markets. The gaming
subsidiaries of MGI which support the media business strongly
with unique ad-inventory, data, and testing environments, will
continue to operate under their own brands. The rebranding into a
single brand is expected to have positive effects on scaling and
revenue growth due to better and easier brand recognition and
positioning as well as positive effects on the cost side due to
not having to support several brands.
'Making Media Better' by enabling better outcomes with
responsible advertising solutions.
With the proposed name change into "Verve", MGI reaffirms its
mission "Let's Make Media Better". Based on the current very
fragmented advertising market, with some very large, not very
transparent, walled gardens and a lot of small more specialist
players, digital advertising is mostly not very efficient. The
company's mission underscores the company's commitment to
improving the advertising media landscape through innovative and
AI-driven advertising solutions in combination with strategic
partnerships with advertisers, agencies, publishers, and other
players in the advertising ecosystem.
The company's focus is on enabling better outcomes for
advertisers, agencies, and publishers, with responsible
advertising solutions while focusing on emerging media channels.
Approval Process
The rebranding of MGI - Media and Games Invest SE to the formal
registration as 'Verve Group SE' requires the approval of the
Annual General Meeting (AGM). The date of the AGM is June 13,
2024. From that date and after receiving shareholder consent, we
will rebrand to Verve, while in line with that also changing our
product names and phasing out the many sub-brands that we have.
Further information on the AGM can be found at
https://mgipro.wpenginepowered.com/annual-general-meeting-2024/.
Responsible parties
The information in this release has been made public through the
agency of the responsible persons set out below for publication
at the time stated by MGI's news distributor EQS Newswire at the
publication of this release. The responsible persons below may be
contacted for further information.
For further information, please contact:
Sören Barz
Head of Investor Relations
+49 170 376 9571
soeren.barz@mgi-se.com, investor@mgi-se.com
www.mgi-se.com
About MGI - Media and Games Invest SE
MGI - Media and Games Invest SE (MGI) operates a fast-growing,
profitable ad-software platform that matches global advertiser
demand with publisher ad-supply while improving results through
first party data from own content as well as AI driven contextual
data solutions. MGI's main operational presence is in North
America and Europe. Through investments in organic growth and
innovation, as well as targeted M&A, MGI has built a one-stop
shop for programmatic advertising, enabling companies to buy and
sell ad space across all digital devices (mobile apps, web,
connected TV and digital out of home), with the mission to make
advertising better. MGI is registered as Societas Europaea in
Sweden (registration number 517100-0143) and its shares are
listed on Nasdaq First North Premier Growth Market in Stockholm
and in the Scale segment of the Frankfurt Stock Exchange. The
Company has three secured bonds that are listed on Nasdaq
Stockholm and on the Frankfurt Stock Exchange Open Market. The
Company's certified advisor on Nasdaq First North Premier Growth
Market is FNCA Sweden AB; info@fnca.se.
Forward-looking statements
This release contains forward-looking statements that reflect the
Company's intentions, beliefs, or current expectations about and
targets for the Company's and the group's future results of
operations, financial condition, liquidity, performance,
prospects, anticipated growth, strategies and opportunities and
the markets in which the Company and the group operates.
Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect",
"anticipate", "intend", "may", "plan", "estimate", "will",
"should", "could", "aim" or "might", or, in each case, their
negative, or similar expressions. The forward-looking statements
in this release, including the pro-forma financial figures
addressed therein, are based upon various assumptions, many of
which are based, in turn, upon further assumptions. Although the
Company believes that the expectations reflected in these
forward-looking statements and pro-forma financial numbers are
reasonable it can give no assurances that they will materialize
or prove to be correct. Because these statements are based on
assumptions or estimates and are subject to risks and
uncertainties, the actual results or outcome could differ
materially from those set out in the forward-looking statements
as a result of many factors. Such risks, uncertainties,
contingencies and other important factors could cause actual
events to differ materially from the expectations expressed or
implied in this release by such forward-looking statements. The
Company does not guarantee that the assumptions underlying the
forward-looking statements in this release (including the
pro-forma financial figures) are free from errors and readers of
this release should not place undue reliance on the
forward-looking statements in this release. The information,
opinions and forward-looking statements that are expressly or
implicitly contained herein speak only as of its date and are
subject to change without notice. Neither the Company nor anyone
else undertake to review, update, confirm or to release publicly
any revisions to any forward-looking statements to reflect events
that occur or circumstances that arise in relation to the content
of this release, unless it is so required by law or applicable
stock exchange rules.
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1902075 14.05.2024 CET/CEST
°
Quelle: dpa-AFX
