The transaction, worth up to $57.5m, will allow Intel Capital and the Singapore state-owned EDBI to exit adtech provider Crisp Media.

Crisp Media, a US-based advertising technology developer backed by semiconductor manufacturer Intel, is set to be acquired by media and analytics company Quotient for an initial $33m.

Quotient will pay $20m in cash, with the remainder of the price provided in stock. Crisp Media could secure up to $24.5m in additional cash subject to financial milestones in the year following the acquisition.

Founded in 2003, Crisp Media operates under the brand name Crisp Mobile, offering mobile marketing and advertising services.…