Monster Offers and Ad Shark today announced that they have completed a merger of the two companies to create the emerging entity Newco, which will continue trading under the ticker symbol "MONT."
Monster Offers and Ad Shark each deliver targeted mobile advertising services and marketing programs. The companies suggested that they are mulling a potential new name for Newco to better reflect brands and market opportunities resulting from their merger.
"We are very pleased and excited to have this merger completed," Wayne Irving, II, CEO of Monster Offers stated in the press release. "As the company moves forward, we will now be able to concentrate our joint efforts to build a unified company, full of innovation and solutions that better serve the needs of today's online mobile advertisers and consumers."
Newco plans to maintain existing strategic alliances with existing business development and content distribution partners, as well as with Ad Shark's former corporate parent, Iconosys Inc. In addition, the newly formed entity will focus on securing additional alliances to further its opportunities.
"Ad Shark is excited to move forward with its business plan under the Monster Offers umbrella. With this merger completed, the combined entity can better serve customers and clients through more powerful and impactful mobile advertising products and solutions and daily deal offerings. We also expect to realize a number of compelling synergies and cost savings opportunities as a result of this transaction," William F. Povondra, Jr., Ad Shark board member stated.
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