Collective Audience Shares Rise 12% After Letter of Intent to Buy BeOp

Dow Jones03-02

By Chris Wack

Collective Audience shares were up 12% to $1.06 after the company said it has signed a binding letter of intent to buy BeOp, a Europe-based advertising and marketing technology company.

The stock hit its 52-week low of 71 cents on Feb.1, and is down 90% in the past 12 months.

Collective Audience said the BeOp transaction includes its cloud-based modular platform.

BeOp's teams are based in France and New York City. Customers include more than 200 global publishers across the U.K., North America, France and Australia, with BeOp helping to generate more than 50 million unique visitors per month.

The companies plan to integrate BeOp's platform into Collective Audience's product offering to increase BeOp's U.S. market share, with this expected to immediately increase revenue generation for Collective Audience.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

March 01, 2024 11:00 ET (16:00 GMT)

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