WASHINGTON (dpa-AFX) - Omnichannel advertising platform provider Mediaocean Thursday announced a definitive agreement to acquire software provider Innovid (CTV) for $3.15 per share of common stock at an enterprise value of approximately $500 million.
As per the agreement, Innovid will merge with Flashtalking to create a premier global, independent, omnichannel ad tech platform. The acquisition is expected to close in early 2025.
The combined organization will provide complementary offerings, including ad delivery, creative personalization, measurement, and optimization across channels, including digital, social, CTV, and linear TV.
The combination of Innovid and Flashtalking is expected to help advertisers with increased control over data and decisions.
Innovid Founder and CEO Zvika Netter will lead the combined ad tech organization as CEO reporting to Bill Wise, Co-Founder & CEO of Mediaocean. Grant Parker of Flashtalking will be President of the combined ad tech organization reporting to Netter. Netter will also join the board of Mediaocean.
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