Courtesy of Benzinga.
IDT Corporation (NYSE: IDT) announced today that its Board of Directors
had instructed management to determine and pursue strategic alternatives
to unlock the value in its Zedge subsidiary, including a spinoff or IPO
of the Company. IDT intends to retain financial advisors to assist it in
analyzing and executing on the best path.
Zedge is the world’s premier discovery platform offering free, high
quality games, ringtones and wallpapers. Zedge’s app, available on
Google Play and iTunes, has been installed more than 70 million times
and has ranked in the “Top 15” in Google Play for three years running.
Zedge offers a fully non-incentivized, scalable, distribution platform
to advertisers, artists and developers seeking high quality customers.
