At what enterprise value was MAXIFIER acquired in 2018?

During the acquisition of MAXIFIER by BMAX in 2018, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 0M - 15M USD. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the TMT (Tech, Media, Telecom) industry currently tracks an average EBITDA multiple of 14.8x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of MAXIFIER when it was acquired by BMAX?

The estimated EV/EBITDA multiple for MAXIFIER is in the range of below 5x. For comparison, the TMT (Tech, Media, Telecom) sector currently shows an average EBITDA multiple of 14.8x. Join our community for free to access full valuation data and industry trends.

When was MAXIFIER acquired by BMAX?

MAXIFIER was acquired by BMAX in 2018.

What was the revenue of MAXIFIER at the time of the deal?

The revenue of MAXIFIER at the time of the deal is estimated to be in the range of 0M - 5M USD. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of MAXIFIER during the acquisition?

MAXIFIER's EBITDA is estimated to be in the range of 0M - 5M USD. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the MAXIFIER acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the MAXIFIER deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://maxifier.com/the-new-maxifier/

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Home Database TMT (Tech, Media, Telecom)MAXIFIER

11/2018

BMAX takes majority stake in MAXIFIER

NORWAY Software / AdTech EV 0M - 15M USD

Context

Maxifier Ltd has been acquired by Bmax AS. The transaction was announced on 20 November 2018 following a shareholder agreement between the parties. Bmax purchased a 70 percent equity stake in Maxifier, which had been a wholly‑owned subsidiary of Cxense ASA. The sale was executed on a cash‑free, debt‑free basis and included a vendor credit agreement maturing 1 January 2021. Completion of the transfer was subject to customary regulatory approvals and was expected to close within the month of announcement. The deal also granted Bmax an option to acquire an additional 15 percent of the outstanding shares under a pre‑agreed enterprise valuation. Bmax’s investment rationale centers on extending its portfolio of programmatic advertising technologies and leveraging Maxifier’s optimization engine to enhance service offerings across its existing client network. The acquisition provides Bmax with direct access to a cloud‑based platform that processes real‑time bidding data and automates inventory selection, capabilities that are complementary to its other digital marketing assets. By integrating Maxifier’s algorithmic models, Bmax aims to improve campaign performance metrics such as click‑through rate and viewability for its customers. The transaction aligns with Bmax’s strategic focus on scalable, data‑driven solutions that can be deployed in multiple geographic markets. The optional additional share purchase allows Bmax to increase its ownership contingent on post‑closing performance, thereby managing investment risk. Post‑completion, Maxifier will operate as a subsidiary of Bmax while retaining its development team and existing technology stack. The combined entity is expected to achieve operational synergies through shared infrastructure, joint sales initiatives, and coordinated product roadmaps. Bmax anticipates that the expanded product suite will attract new publisher clients and deepen relationships with existing advertisers, potentially increasing recurring subscription revenue. The acquisition also positions Bmax to respond more rapidly to evolving programmatic standards and regulatory requirements across Europe and North America. Overall, the deal is projected to strengthen Bmax’s market presence in the ad‑tech sector without immediate dilution of its capital structure.

MAXIFIER, which reported an EBITDA margin of LOGIN in 2018, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level LOGIN than the average currently observed in the TMT (Tech, Media, Telecom) sector (14.8x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Maxifier Ltd develops software that automates the optimization of digital advertising campaigns across websites, mobile sites, and applications, as well as third‑party inventory. The platform ingests click‑stream and impression data, applies algorithmic models to rank inventory placements, and adjusts bidding parameters in real time to meet predefined key performance indicators such as click‑through rate, conversion actions, and viewability thresholds. The solution is delivered as a cloud‑based service with a subscription pricing structure that scales with the volume of served impressions. Customers include media publishers, ad networks, and brands that manage programmatic buying through demand‑side platforms. Founded as a wholly‑owned subsidiary of Cxense ASA, Maxifier originated from the parent’s data‑driven advertising research unit and has operated from Oslo since its incorporation. The company employs a team of data scientists and software engineers who maintain the analytics engine and integrate APIs with major ad exchanges. Revenue is generated primarily from recurring license fees and performance‑based usage charges. The business model emphasizes low‑touch implementation, allowing clients to activate the optimization layer without extensive custom development.

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REFERENCES

Valuation range: EV 0M - 15M USD

Revenue range: 0M - 5M USD

EBITDA range: 0M - 5M USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of MAXIFIER by BMAX are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: maxifier