1. Does the transaction Involve Adsmovil’s U.S. Operation?
No, the U.S. operation of Adsmovil, which is primarily focused on the Hispanic market, has not changed ownership. The MiQ acquisition involves only Adsmovil’s Latin American assets and operations.
2. MiQ Buys Adsmovil in Latin America: An independent ‘giant’ in the Open Web
The acquisition of Adsmovil’s assets and operations in Latin America consolidates MiQ’s position as a relatively large company in the region, with more than 150 employees across 12 markets. With access to 400 million unique IDs, the purchase aims to offer a robust alternative to the walled gardens, integrating advanced artificial intelligence with a deep local inventory across mobile, CTV, and retail media.
3. The million-dollar question: What is the selling price of Adsmovil?
The price of the purchase-and-sale transaction has not been published. Digital Capital Advisors (DCA) represented Adsmovil in the transaction. Generally, these types of deals are settled with an initial payment and one or more subsequent disbursements, depending on the achievement of metrics established in the purchase agreement. According to information obtained by Portada from market sources, Adsmovil’s annual revenue in Latin America is around US$ 25 to US$ 30 million. By market, according to the sources, Colombia has the highest revenue, followed by Mexico and Brazil. Assuming a conservative EBITDA margin of 20% and a multiple of 6 times EBITDA (typically 5-7 times EBITDA are paid), we arrive at a sale price of US$ 33 million. Obviously, we don’t know the amount of the transaction because it hasn’t been made public. However, this figure helps to put the deal into perspective.
“According to Portada’s valuation exercise, the purchase price lies between US $30 and US $35 million.“
4. Consolidation: Scale as a Requirement
In an increasingly fragmented advertising market—especially on the Open Web—at the same time, walled gardens like Google, Meta, TikTok, and others are gaining market share. Scale is no longer an option, but a requirement for survival. Larger operational scale allows for higher revenue and lower fixed costs, resulting in greater profits that can be reinvested. Alberto “Banano” Pardo, founder of Adsmovil, spoke with Portada last November and said, “In this business, you either acquire or you can be acquired; that doesn’t mean the end of the business, but rather its continuation.” This phrase summarizes the sector’s maturity in the region: for a Latin company to compete with global platforms, it needs to integrate into structures with greater technological and financial muscle.
“In this business, you either acquire or you can be acquired; that doesn’t mean the end of the business, but rather its continuation.”
Adsmovil was founded over 20 years ago, and Pardo noted that very few of the companies that were in the sector 20 years ago are still around today. “Very little remains of the old Latin American digital ecosystem.” The need for consolidation in the sector is, above all, a reflection of the dizzying pace of technological change. “Obviously, the more you own or are part of a larger group, the more protected you are from any change,” he points out. “I think advertising has undergone perhaps the most abrupt change of any industry, thanks to technology. I don’t think any other industry has changed so much and so often,” he stated.
Key transaction details
- Regional Scope: The purchase includes operations in Argentina, Brazil, Chile, Colombia, Mexico, Peru, and Central America.
- Specialization in Retail Media: Linki integrates with the Adsmovil platform, which connects brands with real transaction data.
- Strategic Leadership: Eric Tourtel takes over as CEO of MiQ LatAm, while Alberto Pardo remains as Chairman to ensure continuity.
- Data Infrastructure: The combination allows processing billions of data signals to optimize campaigns in real time.
- Independence: Both companies maintain their status as independent partners, without media ownership, prioritizing advertiser performance.
“The acquisition of Adsmovil represents a key step in our strategy to build the most comprehensive, data-driven programmatic offering for clients in Latin America and around the world. As a company, our ambition has always been to connect advertisers with audiences wherever they are, and however they engage with media. This acquisition allows us to incorporate some of the region’s most talented minds and highly competitive services into our global roadmap. Their focus on innovation, measurable results, and client collaboration fully reflects our vision at MiQ,” Gurman Hundal, Co-founder and Global CEO of MiQ, noted.
5. MiQ Buys Adsmovil in Latin America: Strategic Advantages
Through MiQ’s acquisition, a company whose majority investor is private equity house Bridgepoint, Adsmovil gains substantial research and development resources that should enable it to achieve the following technological objectives:
- Unified Omnichannel: Ability to run campaigns across CTV, DOOH, and mobile from a single technical console.
- Sales Attribution: Using Retail Media data to measure the real impact of advertising on consumption.
- Superior Technology Layer: MiQ contributes its AI operating system to improve the efficiency of Adsmovil’s local inventory.
- Alternative to Big Tech: Offers massive scale identity outside of Google, Amazon, and Meta.
- Customer Proximity: Maintains local teams across 12 countries to ensure a personalized service.
“When we built Adsmovil, our goal was simple: to create and deliver world-class solutions for clients throughout Latin America. With this acquisition, MiQ’s clients gain that advantage through greater access to mobile, retail media, and DOOH, while Adsmovil’s clients will benefit from the connection to MiQ’s award-winning technology and global reach. It’s a win-win situation.” , said Alberto “Banano” Pardo, founder and CEO of Adsmovil.
6. Retail Media, A Growth Driver
The rise of retail media is an undisputed reality in marketing and advertising. In Latin America, the sector is far more fragmented than in the United States. MiQ has identified Adsmovil’s presence in retail media as a significant asset that can benefit it in the short- and medium-term. As Alberto Pardo recently told Portada, Adsmovil has been one of the few, if not the only, companies in Latin America to maintain significant relationships with multiple retailers across several countries, including Argentina, Chile, Colombia, and Mexico. Pardo also points out that understanding retailer data and translating that data into a coherent advertising product significantly raises the barrier to entry in the ad-tech sector, far exceeding the cost of managing an ad network. “An ad network is fairly easy to establish, but this kind of retail media knowledge is quite deep and complex,” he states.
“An ad network is fairly easy to establish, but this kind of retail media knowledge is quite deep and complex.”
7. MiQ Buys Adsmovil in Latin America: “Consolidation” and not an Exit
On his LinkedIn account, Pardo emphasizes that this move is not an endpoint but an evolution to “grow the story” after 15 years in business. As he explains in his reflection, the decision aims to elevate the company’s offering to a level that would have taken much longer to achieve on its own. This is not simply an asset sale, but an integration of capabilities: MiQ’s data intelligence needed Adsmovil’s inventory and market penetration to dominate the southern hemisphere.
“We are thrilled to join these teams. With over 150 people in Latin America, we are now the largest independent programmatic offering in the region, giving us the scale and strength needed to help our clients grow and achieve their business goals in 2026 and beyond,” said Eric Tourtel, CEO of MiQ for Latin America
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