Connected TV advertising platform Innovid has acquired TV measurement and attribution platform TVSquared in a cash and stock transaction valued at approximately $160m.
The deal should establish a new standard for cross-platform measurement, powered by the scale and automation of an independent global advert server.
Zvika Netter, co-founder and chief executive of New York-based Innovid explained: “We will accelerate and broaden our scope globally, as brands, agencies, publishers, and broadcasters on six continents rely on TVSquared to maximise reach, identify the right audiences and drive business growth with TV.”
TVSquared's founder and chief executive Calum Smeaton said: “Innovid and TVSquared share complementary visions to transform TV measurement through a comprehensive view of audiences across all devices and platforms worldwide.
“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.”
Upon closing, Smeaton will be stepping down as TVSquared chief executive to take on a strategy role in support of the integration with Innovid.
TVSquared’s president, Jo Kinsella, who has been with the company almost since its inception, will join the Innovid executive team, reporting into Netter and leading the measurement business.
Around 100 of the 150 TVSquared employees are based in Edinburgh.
The combined entity will represent buy-and sell-side customers and process billions of impressions events daily.
The joint offering will include ad serving, creative personalisation and optimisation, outcomes and audience measurement, including reach, frequency and unduplicated reach.
The TVSquared acquisition is expected to close by the end of Innovid’s fiscal second quarter, subject to the satisfaction of customary closing conditions.
Chris van der Kuyl, principal of Chroma Ventures and chairman of TV Squared, said: “This chapter of the story begins and ends with Calum Smeaton, who is a world-class technology entrepreneur and someone who is willing to bear risk in stepping up and seizing opportunities.
“It has been an honour to both invest in the company and serve as its chairman during this first phase of the company’s growth - having transferred a material part of our investment into shares in Innovid, we are looking forward now to being part of the next phase of growth.”
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