Direct Digital Holdings subsidiary licenses SSP technology from SmartyAds for $500,000

Direct Digital Holdings, Inc.

Colossus Media, wholly owned subsidiary of Direct Digital Holdings, entered exclusive license and sale agreement for Colossus SSP technology from SmartyAds.
One-time license fee of $500,000 for a copy of the technology, excluding additional support or customization services.
License grants use, development, and improvement rights for Colossus SSP; restrictions on sublicensing, selling, or creating new products based on the technology.
Customary representations, warranties, indemnification, and IP ownership provisions for modifications developed by either party.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Direct Digital Holdings, Inc. entered into Exclusive License and Sale Agreement with SmartyAds, Inc. valued at $500,000 (effective 2022-11-09).

Action: entry
Agreement: license
Counterparty: SmartyAds, Inc.
Value: $500,000
Effective: 2022-11-09

Exact text from the filing

On November 9, 2022, Colossus Media, LLC (“ Colossus ”), a wholly owned subsidiary of Direct Digital Holdings, Inc., entered into that certain Exclusive License and Sale Agreement (the “ License Agreement ”), by and between Colossus and SmartyAds, Inc. (“ SmartyAds ”), pursuant to which SmartyAds provided an exclusive license to Colossus for the use, development and improvement of certain technology related to the fully functional, standalone, independently functioning, Supply-Side Platform currently being operated by Colossus under the trademarked banner of Colossus SSP, for a one-time license fee of $500,000, excluding fees for technical transfer, support, or maintenance services.

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Source: SEC EDGAR

accession 0001104659-22-119136

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