Singtel-owned global martech company Amobee, headed up locally by ex-Facebook ANZ MD Liam Walsh, has bought demand-side platform (DSP) and data management platform (DMP) Turn.
The acquisition, which makes Amobee one of the largest independent buy-side marketing technology providers globally, will be at an enterprise value of US$310 million and it brings Singtel’s overall investment in Amobee to more than $1 billion.
Singtel, one of the largest telcos in the world says together, Amobee and Turn will become one of the largest independent, end-to-end advertising and data management platforms that provides access to all programmatic channels, formats and devices including social, along with expanded data management and media planning capabilities.
Walsh says the acquisition will strengthen Amobee's position as a “leading provider of digital marketing solutions across all channels and devices for global brands and agencies”.
“The combined technology capabilities position Amobee to build additional, highly effective data and programmatic strategies across display, video, mobile and social platforms, further leveraging Amobee Brand Intelligence insights,” Walsh says.
It was back in 2012 when Singtel bought Amobee for US$321 million and in 2014 Amobee bought Adconion and Kontera for US$235 million and US$150 million.
Amobee, which serves brands such as Airbnb, Dell EMC and Lexus, says with this unified platform, leading brands and agencies can plan and buy media for specific audiences in a more integrated way to maximise their investments across desktop, mobile, video and social media.
Singtel’s CEO of Group Digital Life, Mr. Samba Natarajan, says: “With marketers increasingly shifting from traditional to digital media to engage consumers, global digital ad spend is expected to exceed US$200 billion in 2017.
“The strategic acquisition of Turn strengthens Amobee’s technological edge in the rapidly evolving market of digital advertising and accelerates its growth into a significant global digital marketing player.
"It will also prime Amobee for expansion beyond the US and into the Asia Pacific, where the Singtel Group reaches some 640 million customers across 22 countries.”
The acquisition is subject to regulatory approvals and fulfilment of closing conditions and is expected to be completed within the first half of 2017.
In a blog on Turn's website, CEO Bruce Falck says it’s still “early days in programmatic” and that it's a young industry with great potential, yet added the ad tech space has issues ahead.
“The ad tech space is not without its challenges. However, we uniquely have the opportunity to grow and build an even more exciting and valuable company for our customers, investors and employees,” Falck says.
“It’s early days in programmatic, so think of this as day two, the day we built an unstoppable platform to provide the world’s marketers with their one source of truth.”
“In this new chapter, together with our new partners, we’re ready to meet whatever comes across the fast-changing marketing landscape. There are amazing possibilities in the new product offerings, geographies, and opportunities to help brands better understand consumers.”
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