Extreme Reach (ER), an asset management solution for TV and video advertising, today announced an agreement to acquire TV and cross-media advertising delivery platform Adstream.
The deal gives Extreme Reach an all-in-one brand activation platform, providing global creative asset management, talent and rights management, video ad serving and TV/CTV/OTT activation.
Commercial details of the deal have not been revealed.
"Our companies have shared a mission from day one to connect and simplify every inter-related step in brand campaign activation, no matter how complex the media landscape becomes,” says Tim Conley, CEO and co-founder of Extreme Reach.
“This acquisition gives us the global scale to transform creative asset management and omni channel campaign activation worldwide, setting a new standard that meets today’s challenges.
"I look forward to working with Adstream’s talented leaders and global teams to combine the best technology of both companies, solving marketers’ need for a comprehensive solution. By coming together, we establish a new paradigm for success -- for our clients and ourselves -- now and for the future.”
Adstream CEO Daniel Mark: “In joining Extreme Reach, we provide brands worldwide with a competitive edge, enabling them to move quickly and flawlessly, with more insights at their fingertips.
“Our companies share a common philosophy and are aligned at a strategic level. In joining Extreme Reach, we answer the call from our global clients with the integration of video ad serving and talent & rights management to all we do today."
The transaction is expected to close in the second quarter of 2021, subject to approval from Australia's Foreign Investment Advisory Board.
The 400 Adstream employees will join Extreme Reach and three Adstream executives will take on leadership roles within the combined business: Daniel Mark, as chief strategy officer, Katie Nykanen as chief product officer and Tim Emly as SVP Finance.
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