Monday, July 30, 2018

SRAX Sells SRAXmd For $52.5M

Los Angeles-based digital marketing company Social Reality (SRAX) announced this morning that it is selling its healthcare and pharmaceutical digital advertising product line, SRAXmd, to private equity firm Halyard Capital. According to SRAX, it will receive up to $52.5M for SRAXmd, including $33.5M in cash, $10M in Class A membership units of newly formed entity Halyard MD, and up to $9M in earnout. The sale comes as SRAX has been shifting away from digital marketing and advertising, and instead has been focusing on becoming a blockchain company; the company says it is "developing a consumer-powered data marketplace where people will own and sell access to their data".

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