DGAP-News: Fyber N.V. / Key word(s): Strategic Company Decision/Change in Forecast Fyber N.V.: announces a workforce reduction as part of merger efforts and year 2018 target of +EUR15M EBITDA 28.09.2017 / 07:30 The issuer is solely responsible for the content of this announcement.
Fyber N.V. (The "Company") Fyber announces a workforce reduction as part of merger efforts and year 2018 target of +EUR15M EBITDA Berlin, 28 September 2017 - Fyber N.V., a leading programmatic mobile video platform, announces workforce reduction of 12% of its employees, mainly in its Berlin office. The reduction comes as a result of the recent merger process of Fyber N.V.'s various subsidiaries into one corporate structure, regional reorganization to place sales teams closer to the field, and an increased focus on technology, operational excellence and efficiency.
Fyber N.V. made several acquisitions over the past few years including Falk Realtime, Heyzap and Inneractive, all companies in the advertising technology (ad tech) space that have many synergies and complementary products. This past July, Fyber N.V. appointed Ziv Elul, former Inneractive co-founder and CEO, to CEO of the Fyber N.V. group, with the intention of bringing to a more comprehensive merger of the various business units, and with the goal of improving the operational efficiency of the Company.
Last week, Fyber N.V. announced its first positive adjusted EBITDA quarter, and shared that it will focus on increasing EBITDA margins. The company also updated an outlook for 2018 with positive EBITDA of over EUR15m.
"In the past few months we have put together a unified corporate management which has been focused on driving our revenue growth, while identifying synergies and redundancies that can help improve operational efficiency across the group," said Ziv Elul, CEO of Fyber N.V., "Our workforce reduction was a very difficult decision but ultimately it is a natural part of a merger and is a result of our focus on technology (such as programmatic trading and data) which allows us to scale quickly with less manpower. I am confident this will allow Fyber N.V. to be more agile as we continue pushing towards growth, profitability and technological excellence through product innovation."
About Fyber N.V. Fyber N.V. is a global technology company, developing a next generation platform for the programmatic trading of ads, in a data-driven environment. Its mission is to fuel the creation of quality content by empowering digital publishers and app developers to unlock the true value of their advertising properties through advanced technologies, innovative ad formats and data-driven decision-making. Fyber's technology platform provides an open-access platform for both digital advertisers and publishers, enabling cross-device advertising with a global reach of more than 1.2 billion unique monthly users. Fyber N.V. has offices in Berlin, Tel Aviv, San Francisco, New York, London, and Beijing and employs more than 350 people. The Company is listed on the Prime Standard of Frankfurt Stock Exchange under the symbol 'FBEN'. In 2016 the fast-growing group companies won a number of awards including: Deloitte Technology Fast 500(TM) 2016 EMEA company; was placed in Gruenderszene's Top 50 growth ranking 2016, and won the Golden Bridge Gold Award 2016.
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28.09.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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