About a year ago, we said the Real-Time Bidding (RTB) space (that’s what we all called it back then) had about one year as we knew it before a big shift started to occur. We called it right when it came to ad networks, and its happening in the programmatic space as Toronto-based looks to take the plunge and become a public company. A deal was struck back in late March between Wildlaw Capital CPC 2, a capital pool company and AcuityAds for a private placement of just over $5 million with funding coming from Paradigm Capital Inc. and include Clarus Securities Inc. and Euro Pacific Canada Inc.
Last week they issued a joint press release updating the deal has been closed at $5.75 million creating a “three-cornered” amalgamation under the provisions of the Business Corporation Act (Ontario), pursuant to which Acuity will amalgamate with a wholly-owned subsidiary of Wildlaw CPC 2.” Once the deal receives final approval from the TSX a new corporate leadership will be put in place, but its four Co-Founders will remain on Board of Directors including Tal Hayek, Nathan Mekuz, Rachel Kapcan, Joe Ontman.
AcuityAds had closed a $3 million round of debt-financing back in July 0f 20013, a month after its expansion into the United States with its first office there.