Tremor International is to acquire the loss making Amobee TV ad tech platform from Singtel.
Tremor is paying $239 million for its rival through a combination of cash and a new $100 million debt facility that it anticipates will be obtained prior to the transaction. In addition, Tremor is looking to a further $50 million revolving cash facility and existing cash reserves to fund further acquisitions.
“The acquisition of Amobee is expected to build upon Tremor International’s growth strategy and proven track record of successfully integrating companies that enhance and expand the capabilities and scale of its data-driven end-to-end technology and business platform, focused on CTV and video,” said Ofer Druker, Tremor International’s Chief Executive Officer. “Amobee would add several capabilities including campaign execution across linear and digital channels within a single platform.”
Amobee is a global advertising platform that optimises outcomes for advertisers and media companies, improves consumer experiences, and optimises cross channel performance across linear, Connected TV, and digital media.
Amobee currently serves over 500 customers globally, including Fortune 500 brands, and maintains strong relationships with some of the world’s leading media partners.