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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