Propel Media, Inc. acquired DeepIntent Technologies, Inc. from Christopher Paquette, Mohamed Nouh, Michael Halverson, Michael Myslinski, Sourab Gandhe and Alex White for $8 million.
June 20, 2017
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Propel Media, Inc. (OTCPK:PROM) acquired DeepIntent Technologies, Inc. from Christopher Paquette, Mohamed Nouh, Michael Halverson, Michael Myslinski, Sourab Gandhe and Alex White for $8 million on June 21, 2017. Under the terms of the agreement, Propel Media, Inc. paid $4 million in cash at closing, $0.5 million in cash payable six months from the Closing and an additional $0.5 million in cash payable one year from the Closing. Additionally Propel Media, Inc. may pay an aggregate of $3.0 million of additional consideration if DeepIntent achieves certain operating income levels during the years ending December 31, 2018, 2019 and 2020 $1 million for each year.
Ji Kim of Berkowitz, Trager & Trager, LLC acted as legal advisor to DeepIntent Technologies, Inc. and J. Keith Biancamano of Gibson, Dunn & Crutcher LLP acted as legal advisor to Propel Media, Inc.
Propel Media, Inc. (OTCPK:PROM) completed the acquisition of DeepIntent Technologies, Inc. from Christopher Paquette, Mohamed Nouh, Michael Halverson, Michael Myslinski, Sourab Gandhe and Alex White on June 21, 2017.
Propel Media, Inc. (Propel) is a holding company for Propel Media LLC (Propel Media) and Kitara Media Corp. (Kitara). Propel is a diversified online advertising company. Propel is engaged in the sale of advertising and reaching consumers in the United States and internationally to promote their products and services. The Propel Media Ad Marketplace connects digital marketers with audiences through real-time intent-based technology. Its platform also utilizes various ad platforms in order to access inventory for its media buys.
Propel Media, Inc. acquired DeepIntent Technologies, Inc. from Christopher Paquette, Mohamed Nouh, Michael Halverson, Michael Myslinski, Sourab Gandhe and Alex White for $8 million.
PROPEL MEDIA, INC. 
