Amobee, a subsidiary of Singapore mobile operator Singtel, will acquire the assets of Videology, a specialist in TV and video advertising, for about $101 million.
The purchase price is subject to adjustments for accounts receivable at closing, estimated to be $20.9 million.
Amobee, Singtel’s digital marketing business which it acquired in 2012, was the winner of a court supervised auction following voluntary Chapter 11 restructuring proceedings byVideology. The assets include its technology platform, intellectual property and certain other assets with an estimated net book value of $5.3 million.
US-based Videology develops software which allows advertisers and publishers to use data to optimise campaigns and spend across digital platforms and TV. 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, Amobee said in a statement.
Samba Natarajan, CEO of Singtel’s Digital Life unit, said: “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 noted TV is the largest category of advertising spend, and the industry is in the early stages of the TV and video advertising transformation.
This acquisition is subject to court and regulatory approvals and fulfilment of certain closing conditions.