DALLAS, TX--(Marketwired - Feb 5, 2014) - Sizmek Inc., a wholly owned subsidiary of Digital Generation, Inc. (
To access the conference call by telephone, interested parties may dial 866-713-8563 and enter passcode 41147493. International callers may access the call by dialing 617-597-5311. Please call five minutes in advance to ensure that you are connected. A replay will also be available for seven days following the call. To access the replay, interested parties may dial 888-286-8010 and enter passcode 38676226. International callers may access the replay by dialing 617-801-6888. Participants can access the webcast at www.sizmek.com. For the webcast, please allow 15 minutes to register and download any necessary software. Questions and answers will be taken only from participants on the conference call. Following the call's completion, a replay will also be available for 30 days on the Company's website.
As previously announced on August 13, 2013, DG and Extreme Reach entered into a definitive agreement for DG to sell its television ad delivery business to Extreme Reach for $485 million in merger consideration plus cash and working capital from DG's television business. The merger consideration will be used by DG to pay off all outstanding debt and fund a planned cash distribution to DG stockholders of approximately $3 per share. In addition, DG stockholders will receive a distribution of one share of common stock of Sizmek for each share of DG common stock in partial redemption of their DG shares.
Following the closing of the transaction and the cash distribution, Sizmek is expected to have total cash of approximately $60 million and total working capital of approximately $60 million, including cash and working capital from DG's television business.
DG previously disclosed that it expects the spin-off and merger transaction to close February 7, 2014, subject to the satisfaction of the closing conditions set forth in the merger agreement. Sizmek anticipates that its common stock will trade under the stock ticker symbol, SZMK, on The Nasdaq Stock Market beginning Friday, February 7, 2014
Sizmek fuels digital advertising campaigns for advertisers and agencies around the world with cutting-edge technology to engage audiences across any screen. For the last 15 years, Sizmek has proudly pioneered industry firsts in digital, including rich media, video and online targeted advertising across channels. Sizmek's open ad management stack delivers the most creative and impactful multiscreen digital campaigns, across mobile, display, rich media, video and social, all powered by an unrivaled data platform. With New York City as a center of operations, Sizmek connects 20,000 advertisers and over 5,000 agencies to worldwide audiences, serving more than 1.5 trillion impressions a year. Sizmek operates on the ground in 48 countries with a team of over 850 employees. For more information, visit http://www.sizmek.com.