Online ad optimizing company Marimedia prices £30 million IPO

IPO fever in the online space has continued despite the up-and-down equity markets over the past few weeks. The latest successful entrant is Marimedia, which provides technology solutions for optimizing online advertising revenue. N+1 Singer Advisory LLP acted as Marimedia’s adviser and broker for the flotation.

On Thursday, Marimedia raised a total of £29.8 million (about $50 million) in its offering on the London Stock Exchange’s AIM market, with more than half that figure (£17.9 million) going to the company and £11.9 million going to selling shareholders. The company’s post IPO valuation is £95 million (about $160 million). Marimedia recorded revenues of more than $43 million in 2013, generating $8.7 million of EBITDA. The company has no debt.

Marimedia – as well as its larger rival Matomy – have as clients a number of Forex and Binary Options brokers, which as we know are relative heavy spenders in online advertising. They both also deal with major Forex destination websites. Marimedia focuses its business mainly on publishers and website owners, while Matomy deals more with advertisers. Matomy recently pulled plans for its LSE IPO, after (apparently) seeking to price at too high a multiple.

Marimedia is just the latest IPO among service providers to the Forex sector. Payments processor SafeCharge priced its IPO back in March, raising $126 million.

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