Velti is a leading global provider of mobile marketing and advertising technology and solutions that enable brands, advertising agencies, mobile operators and media to implement highly targeted, interactive and measurable campaigns by communicating with and engaging consumers via their mobile devices. The Velti platform, called Velti mGage(TM), allows customers to use mobile and traditional media to reach targeted consumers, engage the consumer through the mobile Internet and applications, convert them into customers and continue to actively manage the relationship through the mobile channel.

Velti Reports Third Quarter 2011 Results




Velti plc (Nasdaq:VELT), the world's leading mobile marketing and advertising technology provider announced its financial results for the third quarter ended September 30, 2011.

"Our record-setting third quarter results are attributable to the strength of our technology platform, our expanded global footprint and rapid growth in our end markets," said Alex Moukas, Chief Executive Officer. "As we look forward to 2012, we are excited about our global market leadership position, our growing roster of blue chip clients, and the overall growth in smart phones and mobile marketing spending. With the acquisition of MIG we now have a solidified global leadership position for serving our growing roster of blue chip clients in the face of surging growth in smart phones and mobile marketing spending."

Q3 Financial Highlights

Revenue of $38.2 million, an increase of 85% from Q3 2010, driven by overall growth in smart phones, increased mobile marketing spend, and new blue chip clients;
Adjusted EBITDA of $5.6 million, compared with $3.3 million in Q3 2010, an increase of 73%;
GAAP net income attributable to Velti of $0.6 million and EPS of $0.01 compared with a net loss of $6.0 million and EPS of $(0.16) for Q3 2010; and
Adjusted net loss of $1.1 million and adjusted EPS of $(0.02) compared with an adjusted net loss of $3.9 million and adjusted EPS of $(0.10) for Q3 2010


The Company also announced the acquisition of Mobile Interactive Group ("MIG"), the UK's largest mobile marketing company. MIG's global partnership with Skype and its Facebook-integrated Interactive Broadcast Platform have won MIG accolades as a pioneer in bridging social media, mobile marketing and mobile commerce transactions. MIG was named the fastest growing privately owned technology firm in the UK and EMEA, in a report earlier this year by Deloitte. Velti will pay a minimum consideration of $25 million, including $20 million of cash at closing. Depending on MIG's performance, Velti may pay up to an additional $34 million over time through 2013, using a multiple of 7.5 times adjusted EBITDA. Velti expects the transaction to be accretive and to contribute positive EBITDA in the first full quarter after closing.

More about VELT at www.velti.com.

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