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appScatter chair charts progress at AGM; CFO steps down

Last updated: 21:39 29 Jun 2018 AEST, First published: 17:39 29 Jun 2018 AEST

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CFO Manish Kotecha has stepped down with immediate effect

AppScatter Group PLC’s (LON:APPS) chairman Clive Carver has charted the progress made by the app monitoring service over the past year at Friday's annual general meeting.

One of the group’s biggest achievements is the deal it recently struck to buy out German firm Priori Data.

READ: appScatter agrees revised terms for £13.5mln Priori Data acquisition

Shareholders voted in favour of the acquisition at the AGM, and the company said it is looking forward to confirming its completion shortly.

appScatter is paying £13.5mln in a mixture of cash and shares for Berlin-based Priori, which runs an app data intelligence operation.

By combining the data from both companies, it is hoped that brands, app publishers, advertising agencies and mobile networks will be able to conduct more targeted demographic campaigns.

appScatter, which joined AIM last September, has also signed new partnerships with app monetisation firms Airpush and IronSource, as well as adding new products, including app security scanning, APIs for mobile advertising networks such as Google AdMob and Tapcore.

“As of today, appScatter tracks 1.2bln app URLs, from 10.7mln apps and 2.9mln publishers,” Carver told shareholders.

“We can now access app data intelligence drawing on 299 billion downloads across 5 million apps, in 55 categories as well as 6 billion devices across 252 territories.”

He added: “The board believes the company is progressing its growth strategy and is well-positioned to make the most of the significant opportunity we see before us, which enables us to look forward to the future with confidence.”

CFO leaves

In the same statement, appScatter confirmed that finance director Manish Kotecha has stepped down to pursue other business interests.

The company said it has “appropriate interim arrangements” in place and has already begun the search for his replacement.

appScatter shares rose 1.6% to 57.4p in early afternoon trading.

-- Updates for additional info and share price --

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