The source of this strategic review is interesting. So it's "unsolicited inbound interest" with the aim of "maximising shareholder value". That means that the company did not request it. It means that it has come from someone/an entity that knows Adslot and the industry well. It also means that the strategic focus on in increasing shareholder value, which by implication, suggests that Adslot itself could be doing more then it has, or is not capable enough (by itself) to do so, to unlock shareholder value.
So who would this be? A large shareholder, a board member, or a strategic partner who has strategic expertise and/or critical market knowledge/networks. Either way, their (self-initiated) involvement suggests two strategic imperatives: 1) an external and strategically relevant capability/information and 2) greater alignment on Adslot's strategic positioning with shareholder value.
There is a clear recognition that Adslot is at the cross-roads of (potential, but not realised) success. That is, a compelling market need and Adslot's unique strategic position. This is clearly implied in the following information (with my emphasis in bold):
As the programmatic market continues to undergo a change in several forms (ie. decline of 3rd party cookies; supply chain compression; flight to quality; consolidation around access to publisher inventory; competitive rivalry for competitive assets, etc.), and given the unique industry position and technology assets Adslot holds in this environment, the Company has decided to review various strategic options available to unlock and enhance value for shareholders.
I would conclude that Adslot is in the right place, at the right time, with the right technology BUT needs strategic support to convert to a commercially sustainable enterprise (for shareholders to be incentivised to remain and support the company).
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