Prism Data, LLC cancelled the acquisition of remaining 64.2% stake in Digital Media Solutions, Inc. from Clairvest Equity Partners V Limited Partnership, managed by Clairvest Group Inc., Lion Capital LLP and others.
March 03, 2023
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Prism Data, LLC made a proposal to acquire remaining 64.2% stake in Digital Media Solutions, Inc. (NYSE:DMS) from Clairvest Equity Partners V Limited Partnership, managed by Clairvest Group Inc. (TSX:CVG), Lion Capital LLP and others for approximately $110 million on September 7, 2022. Prism Data, LLC will pay $2.50 per share in cash as a consideration. Prism holds approximately 35.8% of DMS's combined outstanding Class A and Class B Shares. Prism Data, LLC intends to fund the acquisition with combination of cash on hand and other available financing sources. B. Riley Securities, Inc. will arrange a $50 million of financing for Prism Data, LLC. Prism Data, LLC has retained B. Riley Securities, Inc. as financial advisor.
Prism Data, LLC cancelled the acquisition of remaining 64.2% stake in Digital Media Solutions, Inc. (NYSE:DMS) from Clairvest Equity Partners V Limited Partnership, managed by Clairvest Group Inc. (TSX:CVG), Lion Capital LLP and others on March 3, 2023.
Digital Media Solutions, Inc. is a digital performance marketing company. The Company provides technology-enabled digital performance advertising solutions connecting consumers and advertisers. It operates through three segments: Brand Direct, Marketplace and Technology Solutions. The Brand Direct reportable segment consists of services delivered against an advertiserâs brand. The Marketplace segment is made up of services delivered directly to the DMS brand. The Technology Solutions segment includes services offered by DMS, including software as a service (SaaS) and digital media services that are managed on behalf of the customer. It operates as a performance marketing engine for companies across various industries, including consumer finance (mortgage), education (split between non-profit and for-profit), automotive (aftermarket auto warranty, auto insurance), insurance (health, homeowners), brand performance (consumer products), gig, health and wellness, and career (job pursuit).
Prism Data, LLC cancelled the acquisition of remaining 64.2% stake in Digital Media Solutions, Inc. from Clairvest Equity Partners V Limited Partnership, managed by Clairvest Group Inc., Lion Capital LLP and others.
DIGITAL MEDIA SOLUTIONS, INC. 