Amobee, the leading brand intelligence platform wholly owned by Singtel, has snapped a major acquisition in ad tech industry at an enterprise valuation of $310 million. It announced the signing of an agreement to acquire Turn, a data and media management company. The data tech company’s acquisition will enable Amobee to extend the functionalities of its Demand-side Platform (DSP) to provide programmatic buying capabilities across video, mobile and display advertising channels.
Amobee’s CEO Kim Perell stated –
“This (Turn’s) acquisition makes Amobee one of the largest independent buy-side marketing technology providers globally, boosts our data analytics capabilities and understanding of consumers, and provides a strong foundation for our future growth.”
“Effectively powering advertisers’ digital marketing is about enabling them to better understand and reach their customers, and enhance the way they engage them, on a global scale. To differentiate and capitalize on the growing market opportunity, we will offer world-class technology paired with advanced data and insights.”
– Kim Perell , Amobee CEO
By adding Turn, Amobee will extend powerful advertising performance to brands using real-time cross-channel insights delivered via Turn Marketing Platform. Turn Marketing Platform is a commanding tool that helps marketers take immediate actions on identity, behavior, and location of the audiences that seek a particular type of content. By leveraging Turn Marketing Platform, DSP and DataMine Analytics, Amobee will enable advertisers a seamless integration between data, analytics, and action plans.
Bruce Falck, CEO of Turn, adds –
“Turn’s vision is to help marketers understand what works, what doesn’t, and why, by providing powerful insights, analytics and programmatic buying platform. Today is a significant moment for us and recognition of the quality of our technology platform. As a part of Amobee, we will be able to enhance the value delivered to our customers and partners on a global scale and accelerate innovation in this space.”
In 2012, the same year Singtel acquired Amobee, ad tech industry was speculating a Turn IPO. By coming a full circle in ad tech industry, Turn’s acquisition highlights how tech firms are open to acquisitions if IPO plans don’t materialize. This acquisition is subject to regulatory approvals and fulfillment of closing conditions and expected to be completed within the first half of 2017.