Ad tech business Mediaocean today announced it has agreed a deal to acquire Innovid, a specialist in converged TV advertising, for $500 million. Mediaocean says it will merge Innovid with Flashtalking, the ad server it bought back in 2021, also for $500 million.
Mediaocean says the combined organisation “will provide a broad array of complementary offerings, including ad delivery, creative personalization, measurement, and optimisation across channels, including digital, social, CTV, and linear TV”. The acquisition is expected to close in early 2025.
A key part of the combined proposition’s positioning will be its independence. In its public statement announcing the deal, Mediaocean said that a lot of ad spend runs through technology owned by media sellers, which it says gives publishers less control over their media placements.
“Today’s advertising landscape needs independent technology companies who can provide a neutral alternative to Google and interoperate effectively across Big Tech platforms,” said Bill Wise, Co-Founder & CEO of Mediaocean. “Our Prisma business provides robust ad infrastructure to the world’s largest brands and agencies. Now Flashtalking plus Innovid will establish a premier independent ad tech business with a keen focus on creative and CTV.”
Innovid’s CEO and founder Zvika Netter will lead the business created by Innovid and Flashtalking’s merger as CEO, while Flashtalking’s current president Grant Parker will retain the president title, reporting to Netter.
Adding to the stack
Mediaocean’s core software, which helps manage advertising workflow, is well established across the industry. The company has used M&A as a means of adding capabilities, fleshing out its overall stack.
The company went on something of an acquisition spree after Vista Equity Partners, a private equity firm, bought Mediaocean in 2015. Acquisitions under Vista included sell-side workflow business INVISION, buy-side focussed business BCC AdSystems, and media planning tool Colspace, as well as Flashtalking.
This has continued since Vista sold its stake to CVC Capital Partners and TA Associates in 2021. Mediaocean bought Imposium, a specialist in dynamic creative, in 2022.
Innovid itself has made a few acquisitions in its time, most notably measurement specialist TVSquared, which it bought in a deal worth around $112 million.
“We believe Innovid, Mediaocean, and Flashtalking represent decades of innovation and integrations of some of the world’s best technologies,” said Innovid CEO Zvika Netter. “Together, we will be a partner that brands, agencies, and publishers can rely on to innovate, drive growth, and build their future.”
