Shares of Bidstack Group soared, nearly doubling in value, following the resolution of its legal dispute with Azerion. The two companies have not only settled their differences but also established a new commercial partnership for the future.
Under the agreement, Azerion will compensate Bidstack with a payment of €3 million, and the companies aim to launch their renewed collaboration in 2024.
Bidstack, an expert in in-game advertising, will provide Azerion’s supply-side platform, Improve Digital, with access to its high-quality gaming inventory. This arrangement will be on a non-exclusive basis.
James Draper, CEO of Bidstack, commented on the development, stating, “After comprehensive negotiations, Bidstack and Azerion have resolved all outstanding issues and will proceed with a collaborative approach. Our renewed partnership will focus on markets outside the UK, USA, Canada, Australia, South Korea, and Germany, aiming to expand the in-game advertising sector through Azerion’s extensive network of global and local brands.”
Sebastiaan Moesman, CRO at Azerion, also expressed satisfaction with the outcome, saying, “We’re excited to announce both the resolution of past conflicts and the initiation of a new commercial partnership. With our previous issues settled, we are two companies in the same field with synergistic offerings, eagerly anticipating the rekindling of our relationship in 2024.”
