- ISIN SE0018538068
- Country Schweden
Verve Group SE (Nordic)
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
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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 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. |