Connected TV (CTV) advertising delivery and measurement platform Innovid has agreed to acquire measurement and attribution specialist TVSquared for $100m in cash and approximately $60m in stock.
<! pod><! pod>US-based Innovid helps clients to stream, personalize and measure connected TV (CTV) advertising, the last of these accredited by MRC. The firm is headquartered in New York City and has extended its global reach in recent years with office launches in Japan, expansion across the DACH region and a number of acquisitions. Last June, an IPO announcement valued the company at around $1.3bn.
TVSquared is headquartered in Edinburgh, Scotland, and led by company President Jo Kinsella and CEO/founder Calum Smeaton (pictured). Its scalable ADvantage platform measures the effectiveness of linear television, addressable and OTT/CTV. A year ago the company launched a fully-automated cookie-less solution called ADvantage XP, while partnerships with the likes of Sky Media, Foursqaure and Flashtalking have helped further expand its offer. Total preliminary revenue for the full year 2021 is expected to be between $20m and $22m.
The buy is expected to close by the end of Innovid's fiscal second quarter, subject to the satisfaction of customary closing conditions. Smeaton will then step down as TVSquared CEO to take on a strategy role in support of the integration, while Kinsella will join the Innovid executive team, reporting to Innovid CEO and co-founder Zvika Netter, and leading the measurement business.
Netter comments: 'In acquiring TVSquared, we aim to provide the most complete view of the total TV and digital universe through a scalable, currency-grade measurement platform. Additionally, we immediately accelerate and broaden our scope globally, as brands, agencies, publishers, and broadcasters on six continents rely on TVSquared to maximize reach, identify the right audiences and drive business growth with TV'. Kinsella says 'we believe this combination will give advertisers, across the ecosystem, everything they need to transact at scale', while Smeaton says the two firms 'share complementary visions to transform TV measurement' and adds: 'Joining forces establishes a cross-platform measurement solution that maps one of the largest datasets of audiences, homes, and devices, at scale, across linear, CTV, and digital video'.
Web site: www.tvsquared.com .
All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.
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