Tech firm Digital Turbine to move headquarters to Austin

Jan 19, 2015
Austin American Statesman

Digital Turbine Inc., a growing global tech firm currently based in Los Angeles, said Friday it is moving its headquarters to downtown Austin, bringing 50 to 100 high-paying tech jobs and plans to add more jobs over time

The publicly traded firm, which distributes mobile applications to customers including Verizon and T-Mobile, will move into a three-story building now under construction at Fourth and Lavaca streets downtown, said CEO Bill Stone. An existing building on the site had largely been empty since its longtime occupant, the 219 West bar, relocated to West Sixth Street in 2011

Digital Turbine will have revenue of more than $50 million — most of it coming from outside the U.S. — and a headcount of 185 employees once it wraps up an acquisition with Appia, a North Carolina firm. It presently has 125 employees worldwide, including in Berlin, Tel Aviv, Singapore and Sydney, Australia

Officially, the company is still Mandalay Digital Group Inc. (it trades on the Nasdaq exchange with the symbol MNDL), but on Tuesday its corporate name will change to Digital Turbine Inc. The ticker symbol will change to “APPS” at the start of trading on Tuesday, company officials said

The company said the corporate name change reflects its operating brand name, which is well known in the mobile solutions market. Mandalay acquired Digital Turbine’s assets in 2012, and since then has made five acquisitions, Stone said

A Digital Turbine subsidiary, Digital Turbine USA Inc., has had a presence in Austin for about a year, with fewer than 15 people working in product development and operations at 1300 Guadalupe, Stone said

Stone said Austin is a good fit for his company due to its tech talent pool, a lower cost of living compared to California and its central location to the firm’s customers on both coasts as well as South America

Stone said the Austin headquarters will be staffed with both transfers and local hires. He said the jobs will include engineering and software development positions that will pay salaries in the “high five figures and into the six figures.”

He said the company has kept “a pretty low profile” to date but will raise its profile as it expands its presence and recruits locally. Stone would not disclose future headcount projections

Digital Turbine’s lease deal was brokered by Craig Brockman, who spent 15 years with AMLI Residential in Austin and was instrumental in developing the Second Street district, recruiting scores of upscale shops and restaurants to a pioneering six-block retail area along West Second Street. Brockman represented both Digital Turbine and Tom Calhoon, owner of the 4th and Lavaca property

Bart Whatley with Delineate Studio is the architect who designed the headquarters building

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