Connected TV advertising and measurement platform Innovid has struck a deal to acquire television measurement company TVSquared.
The acquisition creates what Innovid calls “an end-to-end, independent TV measurement alternative that brings together streaming and linear television.”
A definitive agreement was announced on Monday. It sees Innovid acquiring TVSquared in a cash and stock transaction valued at approximately $160 million.
“The deal establishes a new currency-grade standard for cross-platform measurement, powered by the scale and automation of an independent global ad server,” the companies 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,” said Zvika Netter, CEO and Co-Founder of Innovid. “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.”
TVSquared is led by President Jo Kinsella. “By digitizing cross-platform TV advertising, we believe this combination will give advertisers, across the ecosystem, everything they need to transact at scale,” Kinsella said. “Together, TVSquared and Innovid are at the center of TV’s transformation, meeting the market’s needs for a converged TV measurement alternative.”
Upon closing, a leadership transaction will be seen, as TVSquared founder and CEO Calum Smeaton will be stepping down to take on a strategy role in support of the integration with Innovid.
Kinsella, who has been with the company almost since its inception, will join the Innovid executive team, reporting into Netter and leading the measurement business.
“The combined entity will represent buy-and sell-side customers and process billions of impressions events daily,” the companies say. “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.
