- Mediaocean has acquired Innovid, with plans to merge the ad-tech firm with its Flashtalking unit to create a brand new omnichannel platform, according to a press release. The deal, expected to close early next 12 months, has an enterprise value of $500 million.
- Innovid is understood for its connected TV (CTV) capabilities while Flashtalking makes a speciality of creative and production areas. Together, they may offer ad delivery, creative personalization, measurement and campaign optimization for channels including digital, social, CTV and linear TV.
- The move contributes to a recent run of ad-tech M&A and growing activity around CTV, specifically. Mediaocean and Innovid positioned their union as an independent, “neutral alternative” to Google that guarantees interoperability between Big Tech platforms.
Mediaocean gains a specialist in CTV promoting and measurement with the deal for Innovid. The $500 million acquisition complements the capabilities of Flashtalking, which uses automation to break down organizational siloes and enable more efficient production, versioning and distribution of ad creative. Mediaocean, a privately held software and services provider that helps marketers manage their ad spend, purchased Flashtalking for an identical price in 2021.
Mediaocean’s goal is to construct an omnichannel ad-tech platform that gives a wide selection of services and acts instead to the Big Tech heavy hitters.
“Today’s promoting landscape needs independent technology corporations who can provide a neutral alternative to Google and interoperate effectively across Big Tech platforms,” said Bill Wise, co-founder and CEO of Mediaocean, in a press statement. “Now Flashtalking plus Innovid will establish a premier independent ad tech business with a keen focus on creative and CTV.”
Zvika Netter, Innovid’s founder and CEO, will lead the combined organization, reporting to Wise. Grant Parker, currently in control of Flashtalking, will likely be president of the brand new unit, acting under Netter. In addition, Netter will join Mediaocean’s board.
Mediaocean is the most recent ad-tech independent to make fresh shots across the bow on the industry’s biggest players, that are more vulnerable amid an antitrust crackdown. Independents argue that marketers’ ability to leverage data is constrained and lacking transparency when working inside what are commonly referred to as walled garden platforms.
Snapping up Innovid also speaks to the will to capitalize on the CTV boom. Viant Technology, a programmatic ad-tech company, last week acquired CTV content data platform IRIS.TV to get a leg up on transparency into the channel’s ad inventory.
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