We Are Taking Action To Strengthen Our Business
Catalina has reached an agreement to sell our business in Japan to Yosemite 2 K.K., which is an equity funded entity of D Capital, Inc., a Tokyo-based private equity firm. In conjunction with this transaction, we also reached an agreement with the overwhelming majority of Catalina’s lenders to substantially reduce the company’s debt by initiating a voluntary, prepackaged financial restructuring in the United States. Only Catalina’s U.S. operations are part of the court supervised financial restructuring.
We expect to complete the sale and balance sheet restructuring in approximately 30 days.
Catalina’s global operations will continue as usual, and we have ample financial liquidity to operate normally through this process and beyond.
We remain focused on providing our customers with the highest level of service and results without disruption. Our operations will continue uninterrupted throughout the restructuring process. It will be business as usual in terms of how we work together.
Over the past few years, Catalina has successfully transformed into a data-driven, omni-channel media platform delivering highly targeted, personalized advertising and promotional messages across In-store, CTV, Out of Home, and digital media with a focus on effectively measuring the results for our retail, CPG brand, and agency partners, providing actionable insights and analytics for optimized marketing efforts and increasing ROI.
Together, these actions will sharpen Catalina’s strategic focus, strengthen the balance sheet and enable us to build on our successful transformation by investing in new data sets to expand our targeting capabilities, AI & machine learning-powered data science that further enhances our exceptional personalization capabilities, and relevant new data-driven solutions that help our retail, brand and agency customers unlock meaningful value for consumers across in-store and digital channels.
We remain focused on continuing to solve customer challenges and look forward to emerging as an even stronger company, better positioned for the future.
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