Singtel subsidiary Amobee, a leading global digital marketing technology company serving brands and agencies, has emerged as the winner in the court supervised auction to acquire certain assets from Videology, a software provider for advanced TV and video advertising for purchase price of approximately US$101 million.
The purchase price is subject to adjustments for accounts receivable at closing, estimated to be approximately US$20.9 million.
The acquisition, following Videology’s voluntary Chapter 11 restructuring proceedings, includes Videology’s technology platform, intellectual property and certain other assets of estimated net book value of US$5.3 million.
Over the past decade, Videology has emerged as a leading provider of software that empowers advertisers and publishers to use data to optimise campaigns and spend across digital platforms and television. The addition of Videology’s capabilities will be a further boost to Amobee’s omni–channel platform and help marketers meet growing consumer demand for premium video and connected TV content.
Samba Natarajan, CEO of Singtel’s Group Digital Life said, “Our key focus has been to build up Amobee’s technological edge as we scale Amobee to become one of the world’s top leading independent digital marketing players. The strategic acquisition of Videology’s assets puts Amobee in an even stronger position to capture the global digital marketing opportunity with the convergence of TV and digital.”
Amobee’s CEO Kim Perell said, “Television is the largest category of advertising spend and the industry is in the early–stages of the TV and video advertising transformation. With the acquisition of Videology’s innovative technology assets, Amobee will strengthen our omni–channel capabilities and continue to bring marketers next generation solutions to reach and engage consumers on a global scale.”
“Becoming part of Amobee represents the best path forward for Videology. Amobee and Singtel share our goal of leading the transformation of TV.” said Scott Ferber, Founder and CEO of Videology. “Amobee has established itself as a global leader in digital advertising and Videology’s TV and video capabilities are highly complementary to the Amobee platform. We anticipate the completion of the acquisition to be seamless for Videology’s valued clients and partners, providing the financial stability and strategic position to drive future growth.”
One of the world’s largest independent advertising platforms, Amobee unifies key programmatic channels – including all major social media platforms, formats and devices – to provide both managed– and self–service clients with advanced data management and media planning capabilities as well as actionable, real-time market research and proprietary audience data.
The insights provided by Amobee’s comprehensive marketing technology platform empower marketers to take control of their message across the entire consumer journey. Fuelled by programmatic technology, brands and agencies can now go beyond more efficient media buys to orchestrate execution across multiple channels powered by strategic planning and applying deep, contextual insights to better reach target audiences. Simplifying the delivery of advertising across all channels and screens – including video, display, mobile, and social – the platform includes the Amobee DSP, Amobee DMP, Brand Intelligence and DataMine analytics, which converts raw data into artificial intelligence powered custom audience and campaign insights, allowing marketers to make more informed decisions.