appScatter Group PLC (LON:APPS) revealed that it plans to relist under the name ‘Airnow PLC’ on London’s alternative investment market (AIM), once its takeover of US-based mobile advertising company Airpush is complete.
Shares were cancelled from AIM in late October, following a six-month trading suspension while it worked to acquire the privately-owned Airpush through the issue of stock to Airpush shareholders at a price of 26.8p each.
In a statement on Monday, appScatter said Airpush shareholders will hold 75% stake of the enlarged company, which is to be relisted as Airnow PLC in the “near future”.
Airpush is similar to appScatter in that it helps users to make money from software applications, with over 120,000 live apps using its software.
Chief executive Philip Marcella said the merger will create a “global profitable end-to-end platform” to support mobile app developers and publishers throughout “the entire app lifecycle”, from creation, distribution and management, to marketing, monetisation, and security.
Marcella added that the takeover, which must first be approved at a general meeting of appScatter shareholders, will allow the enlarged group to “penetrate a US$90bn addressable mobile app market” and give it audience data on 3.4 billion mobile devices.