Raymond James Ltd. and Ubequity Capital Partners Inc., along with several others, assisted the financing.
Toronto based Direct Media Technologies is an internet company that specializes in domain ownership, domain monetization and domain sales. The company owns over 80,000 Internet domains and derives revenue through advertisements.
Direct Media Technologies intends to use proceeds to continue to aggressively consolidate its focused niche of the web domain sector.
“Direct Media Technologies said it has been working on several acquisitions in parallel to the financing process. “..We look forward to (i) completing these transactions, (ii) ingesting these acquired portfolios into our technology-led business processes, (iii) providing increased performance for our advertisers and (iv) continuing to look ahead to larger scale opportunities,” said Ted Steube, CEO of Direct Media Technologies.”
“Direct Media Technologies said it now plans to embark on a US $30 million financing which is anticipated to be a hybrid of debt and equity”.
“Internet advertising continues on its explosive growth curve, taking share from virtually all other advertising mediums.”
“DMT is well positioned in the ecosystem as end users navigate to DMT’s stable of web domains without the need for search engine optimization or any kind of paid promotion. ”
“We are pleased to have acted as DMT’s financing agent on this successful US$4.2 million offering and look forward to a continued partnership with the company as it grows,” says Kia Besharat, Managing Director at Ubequity Capital Partners”
According to a bio on found on Mr. Steube, he “raised $160 million for JumpTV. He has completed 13 acquisitions for KIT Digital in less than three years, and joined Direct Media Technologies in October 2010.”
Nice to see someone in the space hitting the big time.