REDWOOD CITY, Calif. & SINGAPORE--(BUSINESS WIRE)--Singtel subsidiary Amobee, a leading global digital marketing technology company serving brands and agencies, today announced that it 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 million1. 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 million2. Over the past decade, Videology has emerged as a leading provider of software that empowers advertisers and publishers to use data to optimize 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. Fueled 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.
This acquisition is subject to court and regulatory approvals and fulfillment of certain closing conditions.
Amobee is a technology company that transforms the way brands and agencies make marketing decisions. The Amobee Marketing Platform enables marketers to plan and activate cross channel, programmatic media campaigns using real-time market research, proprietary audience data, advanced analytics, and more than 150 integrated partners, including Facebook, Instagram, Pinterest, Snapchat and Twitter. Amobee is a wholly owned subsidiary of Singtel, one of the largest communications technology companies in the world which reaches more than 650 million mobile subscribers. The company operates across North America, Europe, Middle East, Asia and Australia. For more information, visit www.amobee.com or follow @amobee.
Singtel is Asia's leading communications and ICT solutions group, providing a portfolio of services from next-generation communication, technology services to infotainment to both consumers and businesses. For consumers, Singtel delivers a complete and integrated suite of services, including mobile, broadband and TV. For businesses, Singtel offers a complementary array of workforce mobility solutions, data hosting, cloud, network infrastructure, analytics and cyber-security capabilities. The Group has presence in Asia, Australia and Africa and reaches over 650 million mobile customers in 21 countries. Its infrastructure and technology services for businesses spans 21 countries, with more than 370 direct points of presence in 325 cities. For more information, visit www.singtel.com.
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Videology (videologygroup.com) is a leading software provider for converged TV and video advertising. By simplifying big data, we empower marketers and media companies to make smarter advertising decisions to fully harness the value of their audience across screens. Our math and science-based technology enables our customers to manage, measure and optimize digital video and TV advertising to achieve the best results in the converging media landscape. Videology, Inc., is a privately-held, venture-backed company, whose investors include Catalyst Investors, Comcast Ventures, NEA, Pinnacle Ventures, and Valhalla Partners. Videology is headquartered in New York, NY, with key offices in Baltimore, Austin, Toronto, London, Paris, Madrid, Singapore, Sydney, Tokyo and sales teams across North America.
1 Based on a cash consideration of US$117.3 million, subject to adjustment pursuant to the terms of the asset purchase agreement for the Proposed Transaction (which is estimated, as at the date hereof, to be a downward adjustment of approximately US$16.1 million).
2 As of 31 May 2018.