Xurpas mulls listing of subsidiary this year
Listed technology company Xurpas is planning to list its wholly owned subsidiary Xeleb Technologies Inc. on the Small, Medium and Emerging (SME) board of the Philippine Stock Exchange possibly this year.
The company also acquired 100 percent of Art of Click Pte. Ltd., a Singapore-based mobile media advertising company for $45 million, marking the company’s biggest acquisition to date, said company president Raymond Racaza.
Officials announced on Friday the two landmark developments for Xurpas, which is considered in the capital markets as a major disruptor in the technology industry.
Xurpas’ acquisition of Art of Click would complement the company’s mobile consumer business, officials said.
Art of Click has created a proprietary, next generation ad optimization platform for advertisers that effectively supports both client brands and global and regional communication agencies in the develop- ment and execution of mobile strategies in markets such as South Korea, Japan, Hong Kong, Taiwan, Southeast Asia, North America, and Europe.
“We are thrilled to find innovative companies exceedingly complementary with our business. We believe that Art of Click is a perfect match for our mobile consumer services, and that growth prospect excites us,” said Nix Nolledo, chairman and CEO of Xurpas.
Art of Click’s mobile campaign platform is designed to maximize mobile app monetization.
In contrast to traditional mobile advertising, the company’s action based performance advertising platform means advertisers only pay for users’ measurable actions, whether that means installing a game, signing up for a service, or making a purchase.
Racaza said Xurpas’ main growth driver is largely mobile consumer services, making its acquisition of Art of Click very timely.
“Since our IPO, we have strategically invested in companies that will boost our content offering for the mobile subscriber. We love the fact that Art of Click has the capability to tremendously enhance this core business unit. Right now, we are developing revolutionary mobile consumer platforms that integrates our various investments. Our investment in Art of Click couldn’t have come at a more perfect time,” Racaza said.
Xurpas listed its shares at the PSE in December 2014, missing P1.36 billion from its IPO.
It specializes in the creation and development of digital products and services for mobile end-users, as well as the creation, development, and management of proprietary platforms for mobile operators.
In the first half of the year, the company reported a 15 percent growth in net income to P132.51 million on the continued growth of its digital products and services.