NEW YORK—The connected TV ad platform Innovid has entered into a definitive agreement to acquire TVSquared in a cash and stock transaction valued at approximately $160 million.
The deal for TVSquared, which had revenue of between $20 million and $22 million in 2021, positions Innovid as a single source for ad-serving and measurement for converged TV.
“In acquiring TVSquared, we aim to provide the most complete view of the total TV and digital universe through a scalable, currency-grade measurement platform,” said Zvika Netter, CEO and co-founder of Innovid. “Additionally, we immediately accelerate and broaden our scope globally, as brands, agencies, publishers, and broadcasters on six continents rely on TVSquared to maximize reach, identify the right audiences and drive business growth with TV. As the market demands greater accountability, Innovid and TVSquared are reimagining the future of cross-platform TV measurement together.”
“By digitizing cross-platform TV advertising, we believe this combination will give advertisers, across the ecosystem, everything they need to transact at scale,” added Jo Kinsella, president, TVSquared. “Together, TVSquared and Innovid are at the center of TV’s transformation, meeting the market’s needs for a converged TV measurement alternative.”
Upon closing, Calum Smeaton will be stepping down as TVSquared CEO to take on a strategy role in support of the integration with Innovid. TVSquared’s president, Kinsella, who has been with the company almost since its inception will join the Innovid executive team, reporting into Netter and leading the measurement business.
The combined entity will represent buy-and sell-side customers and process billions of impressions events daily, the companies said. The joint offering will include ad serving, creative personalization and optimization, outcomes and audience measurement, including reach, frequency and unique unduplicated reach, for the total TV and digital universe.
The TVSquared acquisition is expected to close by the end of Innovid’s fiscal second quarter, subject to the satisfaction of customary closing conditions.
