Singtel subsidiary Amobee has announced it has emerged as the winner in the court supervised auction to acquire certain assets from adtech player Videology.
The acquisition is subject to court and regulatory approvals and fulfillment of certain closing conditions. The purchase price of US$101 million is subject to adjustments for accounts receivable at closing, estimated to be approximately US$20.9 million.
Amobee’s acquisition, following Videology’s voluntary restructuring proceedings, includes Videology’s technology platform, intellectual property and certain other assets of estimated net book value of US$5.3 million.
Videology is a software provider for advanced TV and video advertising.
Amobee CEO Kim Perell said: “Television is the largest category of advertising spend and the industry is in the early-stages of the TV and video advertising transformation.
“With the acquisition of Videology’s innovative technology assets, Amobee will strengthen our omni-channel capabilities and continue to bring marketers next generation solutions to reach and engage consumers on a global scale.”
Samba Natarajan, CEO of Singtel’s Group Digital Life, added: “Our key focus has been to build up Amobee’s technological edge as we scale Amobee to become one of the world’s top leading independent digital marketing players.
“The strategic acquisition of Videology’s assets puts Amobee in an even stronger position to capture the global digital marketing opportunity with the convergence of TV and digital.”
Videology founder and CEO Scott Ferber said: “Becoming part of Amobee represents the best path forward for Videology. Amobee and Singtel share our goal of leading the transformation of TV.
“Amobee has established itself as a global leader in digital advertising and Videology’s TV and video capabilities are highly complementary to the Amobee platform.