Innovid acquires TVSquared for $160m
Edinburgh-based TV advertising platform Innovid has acquired TV measurement and attribution platform, TVSquared Ltd for $160 million.
Innovid said that the deal establishes a new currency-grade standard for cross-platform measurement, powered by the scale and automation of an independent global ad server.
Calum Smeaton, CEO and founder of TV Squared, will be stepping down as CEO to take on a strategic role in support of the integration with Innovid.
TVSquared’s president, Jo Kinsella, who has been with the company almost since its inception will join the Innovid executive team, reporting to Zvika Netter, CEO of Innovid and leading the measurement business.
The combined entity will represent buy-and sell-side customers and process billions of impressions events daily. The joint offering will include ad serving, creative personalization and optimization, outcomes and audience measurement, including reach, frequency and unique unduplicated reach, for the total TV and digital universe.
The TVSquared acquisition is expected to close by the end of Innovid’s fiscal second quarter, subject to the satisfaction of customary closing conditions. All financial information for TVSquared is prepared under UK GAAP which may not be comparable to financial results prepared under US GAAP. TVSquared was advised by LUMA Partners.
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 maximize 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.”
Jo Kinsella, president, TVSquared, added: “By digitizing cross-platform TV advertising, we believe this combination will give advertisers, across the ecosystem, everything they need to transact at scale. together, TVSquared and Innovid are at the centre of TV’s transformation, meeting the market’s needs for a converged TV measurement alternative.”