Media and Games Invest SE: Sameer Sondhi and Ionut Ciobotaru to become co-CEOs of MGI’s media segment Verve Group, building the leading global full stack omnichannel ad platform
- Strong track record continues: Revenue of media business up by 159 % in Q2 2021 to EUR 29m with a dynamic increase of EBITDA-Margin from 11% to 16%
- Mid-term goal is to further strongly grow Revenues and EBITDA based on its unique tech stack and a consumer first approach as well as combining M&A and organic growth
- The planned new pod structure enables the organization to keep focus while driving fast growth
“Sameer and Ionut are showing great performance combining M&A, integrations, organic growth and innovation in ad-tech whilst also emphasizing synergies with the gaming segment gamigo of the MGI group. As CRO and CPO they have been responsible for the company's excellent performance over the past years and they will ensure that this positive development continues in the future”, said Remco Westermann, who acted as CEO of Verve Group until now and who will fully focus on his role as CEO and Chairman of Media and Games Invest. “Sameer and Ionut have led Verve Group to a strong track record: revenue of MGI’s media business was up by 159 % in Q2 2021 to EUR 29m with a -based on synergies, economies of scale as well as technical optimizations- increase of EBITDA-Margin from 11% to 16%.“
Sameer Sondhi and Ionut Ciobotaru add: “We want to continue the strong revenue growth of Verve and simultaneously further improve our EBITDA. Verve has built a unique global full stack omnichannel ad platform, which covers the full value chain, by leveraging M&A in combination with organic growth based on new product development following the subsequent integration of the acquired companies. Now we are focusing on reaching global scale: we want to become a market leader in all geographically relevant markets. Already today, Verve is one of the leading worldwide mobile exchanges and has a very strong position in data and Connected TV. Our consumer first approach, which relies on transparency, brand safety as well as privacy and data compliance differentiates our offering from most of the existing competitor.” Both add: “We took the decision to implement a pod structure. In this context, teams combine different skills to meet the customer's needs." These self-organized, collaborative, and autonomous teams are fully focused on achieving strategic, creative and production goals - acting as responsibly as an owner would. All our major media businesses, such as Mobile Exchanges or our Connected TV activities, will get a completely dedicated and fully focused team including an own MD, product and engineering FTEs as well as sales and operations. With this new structure we stay in control and can continue our fast growth pace in delivering value to each of our customer segments. “, both managers emphasize.
The Board of Directors believes that the structures thus created not only meet the current requirements of a global group with two operating segments, but also provide the framework for further growth within MGI’s overall “BUY. INTEGRATE. BUILD & IMPROVE strategy”.
Sameer Sondhi joined Verve in early 2020 and previously held management positions at InMobi, Opera Media, Ground Truth, among others. Ionut Ciobotaru is the founder of PubNative which was acquired by MGI in 2019, and previously held management positions at AppLift, IT-Genetics and Weebo.
Sameer Sondhi in his role as co-CEO will further focus on the commercial side, with a.o. a strong focus on sales and partnerships, ensuring that the number of advertisers and publishers on, as well as reach of Verve’s platform, continues to expand globally.
Ionut Ciobotaru, in his role as co-CEO, will be responsible for Verve Group's products, technology and services, ensuring that Verve Group continues to be at the forefront of development, bringing to market both innovative and value creating products for its customers. Not only has Ionut proven his innovation skills as the founder of PubNative, but as Verve's CPO he has been key to the development and enhancement of the Verve platform and has launched promising new products such as ATOM with his team, which is an efficient and data compliant solution to accurately reach target advertising groups.
Under their leadership Verve will continue to build one of the leading full stack omnichannel ad platforms in the Open Internet: Verve Group offers a portfolio of products that are seamlessly integrated to provide marketers with the best end-to-end control and cost efficiency across all advertising channels from a single source. In this context, full stack means that Verve Group covers the entire value chain in programmatic advertising and does not just focus on one sub-area, for example that of a supply side or demand side platform. In addition, the Verve Group serves all advertising channels with In-App, Web, Mobile-Web, OTT/CTV (Connected TV) and Digital Out of Home. This enables Verve Group to offer its customers an outstanding level of transparency in their user acquisition campaigns, since instead of up to 5 different market participants often being involved in the process of a programmatic campaign, only Verve Group is involved. Only a few other providers such as Google, Facebook or Amazon can achieve this. Whereas these providers more and more isolate their platforms and design them as so-called Walled Gardens, the Verve Group relies on open source and open standards as much as possible and thus further increases transparency for its customers.
By means of a tick-the-box M&A strategy in combination with in-house development, last open gaps in the product and services portfolio are being closed and further critical mass is being built up. In addition, investments are also being made in organic growth through product innovation and the expansion of sales. Verve Group's goal is to grow fast and to become the leading global full stack omnichannel ad platform in the Open Internet by offering transparent and highly efficient products and services worldwide, resulting in the best possible ROI for advertisers and the best possible monetization of advertising space for publishers.
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:
Head of Investor Relations
+49 170 376 9571
[email protected], [email protected]
Jenny Rosberg, ROPA, IR contact Stockholm
Axel Mühlhaus / Dr. Sönke Knop, edicto GmbH, IR contact Frankfurt
+49 69 9055 05 51
About Media and Games Invest SE
Media and Games Invest SE is a digitally integrated games and media company with main operational presence in Europe and North America. The company combines organic growth with value-generating synergetic acquisitions, demonstrating continuous strong, profitable growth with a revenue CAGR of 78% (2018 – LTM Q2’21). Next to strong organic growth, the MGI Group has successfully acquired more than 30 companies and assets in the past 6 years. The acquired assets and companies are integrated and amongst others cloud technology is actively used to achieve efficiency gains and competitive advantages. The Company's 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 a secured bond that is 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; [email protected], +46-8-528 00 399.
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