Zeta acquires Apptness digital survey platform for $41M upfront cash and stock

Zeta Global Holdings Corp.

Upfront consideration: $17.9M cash plus $23M in Zeta shares (closing price Sept 30, 2021), subject to working capital adjustment.
Earn-out up to $22M over 3 years (50% cash, 50% stock) based on business performance; $1.75M indemnity holdback released in 18 months.
Adds 45M+ monthly high-fidelity consumer behavioral signals to Zeta Data Cloud; tech integrated into Zeta Marketing Platform.
Expected to be accretive to platform revenue and lower cost of revenue as a percentage of revenue.
Apptness team joins Zeta, adding specialized sales capacity; platform available to Zeta's 6M+ publisher websites.

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