Friday, 24 March, 2023

Singtel will offload U.S. digital marketing business in exchange for $239M

<p>Singtel said it will sell its loss-making digital marketing division Amobee to London-listed Tremor International for $239M to narrow its emphasis on core industries. As a result of Amobee&#39;s S$589M ($424.90M) impairment charge last year, Singtel began a strategic evaluation of the American company. Due to lower advertising revenue, the division, which Singtel purchased in 2012 for $321M, also posted negative core profitability in the second half.</p>