Tremor mulls potential sale - report

Advertising technology firm Tremor International is reportedly considering putting itself up for sale.

According to Sky News, the London-listed business is understood to have appointed investment bank Goldman Sachs to help solicit takeover interest.

Sky noted, citing unnamed "insiders", that the process remained at an early stage and may not yet lead to a formal offer. It was also not clear if any potential buyers had initiated discussions with the board.

But that did not stop the AIM stock jumping on the speculation, and by 1030 GMT it was trading 9% higher at 300.8p.

Tremor, which counts former Sun editor and News UK head Rebekah Brooks as a non-executive director, has seen its share price struggle recently, losing 44% of its value in the year to date.

Russ Mould, investment director at AJ Bell, said: "Speculation around Tremor putting itself up for sale has brought a bit of excitement to the small cap world. The shares had more than quadrupled in value between 2020 and 2021, but a big chunk of those gains has been lost this year."

A spokesperson for Israel-headquartered firm, which has offices in the US, Canada, Europe and Asia-Pacific, declined to comment on the report.