Global digital marketing technology company Amobee has announced it has signed an agreement to acquire marketing tech platform Turn for US$310 million.
Turn offers marketers and agencies data and analytics solutions through a data management platform (DMP), allowing them to better understand customer interactions across ad formats and devices.
It also operates a demand-side platform (DSP) which provides programmatic buying capabilities that automate the process of buying digital ads in real time across video, mobile and display.
Amobee’s acquisition of Turn will expand its existing programmatic and data management capabilities, allowing it to offer marketers an independent end-to-end advertising and data management platform across all channels, formats and devices, as well as access to proprietary Amobee Brand Intelligence insights, advanced analytics and media planning capabilities.
Amobee CEO Kim Perell (pictured above) said the acquisition makes the Singtel-owned company one of the largest independent buy-side marketing technology providers globally, boosts its 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,” she said.
“To differentiate and capitalise on the growing market opportunity, we will offer world-class technology paired with advanced data and insights.”
Amobee’s manage director for Australia and New Zealand, Liam Walsh, said the acquisition will strengthen the company’s position as a provider of digital marketing solutions across all channels and devices for global brands and agencies.
“The combined technology capabilities position Amobee to build additional, highly-effective data and programmatic strategies across display, video, mobile and social platforms, further leveraging Amobee Brand Intelligence insights,” he said.
Turn CEO Bruce Falck said the acquisition is a significant moment for the company and recognition of the quality of its tech 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,” he said.
The acquisition brings Singtel’s overall investment in Amobee to more than $1 billion, and is expected to be completed within the first half of 2017.