Digital Media Solutions Receives Court Approval for Asset Sales

Digital Media Solutions (DMS), a provider of technology-enabled digital performance advertising solutions connecting consumers and advertisers, following a competitive auction process, received approval from the U.S. Bankruptcy Court for the Southern District of Texas for the sale of substantially all of the assets of the company’s core business to its existing lenders, including a consortium of leading financial institutions. The court also approved the sale of the company’s ClickDealer subsidiaries to iMonMedia, a global performance marketing company._x000D_
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“We are pleased to have received the court’s approval of these value-maximizing transactions, which pave the way for us to complete the court-supervised sale process and execute our ownership transition. With a stronger financial foundation and new owners who share our conviction in our go-forward prospects, our core business is well positioned to continue its growth trajectory and capitalize on the significant opportunities we see ahead,” Joe Marinucci, co-founder and CEO of DMS, said. “We are also glad to have found a new home for our ClickDealer business and the team that supports it with iMonMedia, a leading player in the digital marketing and advertising space who will take ClickDealer to new heights. The progress we have made in this process is a true testament to the hard work and dedication of our employees, and I thank them all for their unwavering commitment to DMS. We look forward to closing the transactions in the coming weeks and continuing to innovate and serve our loyal clients.”_x000D_
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The transactions are expected to close in Q4/24. DMS is continuing to operate in the ordinary course across its businesses, including its ClickDealer subsidiaries, providing innovative solutions, vertical expertise and outstanding support to its clients and vendors._x000D_
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Kirkland & Ellis and Porter Hedges are serving as legal counsel to DMS, Portage Point Partners is serving as restructuring advisor and Houlihan Lokey Capital is serving as investment banker.