Digital Turbine stock (NASDAQ: APPS ) surged 11% in Tuesday’s premarket trading after the company clinched a multi-year deal with Google (NASDAQ: GOOGL ) to drive its product and growth strategy for Android.
The company said it will work with SADA, using Google’s enterprise and cloud solutions, to help its clients make money from their products. SADA is Google’s Cloud partner. The company expects the deal to help it expand across the Android platform, including mobile, TV, and other connected devices.
The mobile app and advertising software maker said it’ll work with Google cloud partner SADA to build products for the Android mobile ecosystem. SADA is a global business and technology consultancy.
“By partnering with Google we are efficiently powering app discovery for nearly a billion Android devices globally while simultaneously expanding our footprint across the Android ecosystem including mobile, TV and connected devices,” Digital Turbine Chief Executive Bill Stone said in a news release.
APPS stock fell 1.7% to close at 62.34 on the stock market today. Digital Turbine stock has gained 11% in 2021.
“We are excited to partner with Digital Turbine to support the expansion and scale of its products and services globally,” said Rob Enslin, president of Google Cloud.
The partnership aims to accelerate Digital Turbine’s product and growth strategy to support the Android ecosystem by enabling nearly a billion devices with intelligent app discovery. No terms were disclosed.
The company’s third-quarter earnings were 44 cents a share, up 193% from a year earlier, amid acquisitions. Also, revenue rose 338% to $310.2 million. That topped estimates of a 39-cent per-share profit on revenue of $306.5 million.
Digital Turbine connects wireless service providers, smartphone makers, and publishers with app developers and advertisers. In addition, the company has expanded from mobile into an internet TV.
Most revenue comes from Digital Turbine’s “dynamic installer” for mobile apps. With the February 2020 acquisition of Mobile Posse for a reported $66 million, Digital Turbine diversified into supplying content
About Digital Turbine
Digital Turbine is the leading independent mobile growth platform and levels up the landscape for advertisers, publishers, carriers, and OEMs. By integrating a full ad stack with proprietary technology built into devices by wireless operators and OEMs, Digital Turbine supercharges advertising and monetization. The company is headquartered in Austin, Texas, with offices globally.
Digital Turbine is engaged in media and mobile communications. They deliver end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers, and other third parties to enable them to effectively monetize mobile content.