NEW YORK—Privately-held ad tech giant Mediaocean has inked a definitive agreement to acquire Innovid, an independent software platform for advertising creation, delivery, measurement and optimization for around $500 million.
Mediaocean provides widely used software for managing ad deals.
The deal calls for Innovid to merge with Flashtalking, which Mediaocean acquired in 2021, to create a global independent omnichannel ad-tech platform, the companies said.
Mediaocean will pay $3.15 for each pair of Innovid common stock in a transaction with an enterprise value of approximately $500 million and an equity value of around $525 million, the companies said.
The acquisition is expected to close early next year.
The combined organizations will provide a broad array of complementary offerings, including ad delivery, creative personalization, measurement, and optimization across channels, including digital, social, connected TV and linear TV.
In announcing the deal, Mediaocean said that combining two trusted and innovative platforms—Innovid and Flashtalking—will provide advertisers with increased control over data and decisions, more choice in where ad spend can go, and tools and workflows to make media investments more effective and efficient.
Zvika Netter, CEO and founder of Innovid, will lead the combined ad tech organization as CEO, reporting to Bill Wise, co-founder and CEO of Mediaocean. Grant Parker, who currently runs Flashtalking, will be president of the combined ad-tech organization, reporting to Netter. Netter will also join Mediaocean’s board.
“Today’s advertising landscape needs independent technology companies who can provide a neutral alternative to Google and interoperate effectively across Big Tech platforms,” Wise said. “Our Prisma business provides robust ad infrastructure to the world’s largest brands and agencies. Now Flashtalking plus Innovid will establish a premier independent ad tech business with a keen focus on creative and CTV.”
Added Netter: “From the start, when we founded Innovid 17 years ago, we have been driven by the belief that advertising can be made better for all—and this merger represents a key milestone on that journey, and the people, teams, and passion behind it. We believe Innovid, Mediaocean and Flashtalking represent decades of innovation and integrations of some of the world’s best technologies. Together, we will be a partner that brands, agencies and publishers can rely on to innovate, drive growth, and build their future.”
Added Flashtalking’s Parker: “Innovid and Flashtalking are two of the most trusted ad tech platforms providing business-critical value to advertisers around the world. We believe our solutions engage consumers in the moment and deliver highly relevant messages. Combined, we will provide omnichannel orchestration for brands and agencies—from creative personalization to media delivery to transparent and trusted measurement and optimization.”
Deutsche Bank Securities served as Mediaocean’s financial adviser, with White & Case as legal adviser and Bain & Co. and 3C Ventures as strategic consultants. Evercore served as Innovid’s financial adviser with Latham & Watkins as legal adviser.
