CTV ad delivery and measurement platform Innovid has announced the acquisition of TVSquared for US$160 million.
TVSquared is a global measurement and attribution platform for converged TV, and Innovid said that the deal will establish “a new currency-grade standard for cross-platform measurement, powered by the scale and automation of an independent global ad server.”
The US$160 million transaction will consist of US$100 million in cash as well as additional stock consideration. TVSquared’s total preliminary revenue for the full year of 2021 is expected to be between US$20 – US$22 million.
Announcing the deal, Zvika Netter, CEO and co-founder of Innovid, said: “In acquiring TVSquared, we aim to provide the most complete view of the total TV and digital universe through a scalable, currency-grade measurement platform. Additionally, we immediately accelerate and broaden our scope globally, as brands, agencies, publishers, and broadcasters on six continents rely on TVSquared to maximise reach, identify the right audiences and drive business growth with TV. As the market demands greater accountability, Innovid and TVSquared are reimagining the future of cross-platform TV measurement together.”
Calum Smeaton, CEO and founder, TVSquared, said: “Innovid and TVSquared share complementary visions to transform TV measurement through a comprehensive view of audiences across all devices and platforms worldwide. Joining forces establishes a cross-platform measurement solution that maps one of the largest datasets of audiences, homes, and devices, at scale, across linear, CTV, and digital video.”
The companies said that Smeaton will step down as TVSquared CEO upon the close of the deal to take up a strategy role in support of the integration. Replacing him will be Jo Kinsella, president of TVSquared.