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IDI to Acquire Digital Marketing, Customer Acquisition Firm Fluent.

M2 EQUITYBITES-November 18, 2015-IDI to Acquire Digital Marketing, Customer Acquisition Firm Fluent

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18 November 2015 - US-based information solutions provider IDI, Inc. (NYSE MKT: IDI) has entered into a definitive agreement to acquire New York-based digital marketing and customer acquisition specialist Fluent, Inc. for USD 100m in cash and 15m shares of common stock, the company said.

Fluent serves more than 500 brands and direct marketers. Leveraging a massive reservoir of proprietary audience data, as well as millions of real-time survey interactions with consumers every day, Fluent enables advertisers to more effectively target and acquire customers.

An early mover in the mobile trend, Fluent is well positioned in the marketplace with more than 70% of consumer interactions occurring on mobile devices.

In addition to real-time targeting and delivery of consumers to advertisers, Fluent has amassed significant owned data assets consisting of over 100m comprehensive profiles of US consumers.

Unique to Fluent, these assets include billions of self-reported consumer preferences and interests.

Ryan Schulke (CEO of Fluent) and Matt Conlin (President of Fluent) co-founded Fluent in 2010, leveraging their experience in digital marketing. Schulke and Conlin will remain in their executive roles post-acquisition, with Schulke joining IDI's board at closing.

Dr. Phillip Frost to invest USD 40m in preferred stock as financing for the transaction and will join IDI board as vice chairman at closing.

IDI expects to finance the transaction using debt and equity, including Frost's USD 40minvestment and through the issuance of preferred stock to the stockholders of Fluent.

The transaction is expected to close on or before December 1, 2015, but closing may be extended to December 15, 2015.

Fluent was exclusively represented by investment bank Petsky Prunier Securities in this transaction.

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Date:Nov 18, 2015
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