What: AcuityAds has agreed to acquire ADman Media for EU $12 Million.
Why it matters: In 2017, ADman Media delivered approximately 55% of its revenue in Europe and 45% in Latin America and the U.S; the acquisition allows AcuityAds to expand its addressable market.
AcuityAds, the Toronto-based technology firm offering marketing professionals the possibility to connect to audiences through artificial intelligence, has reached an agreement to acquire ADman Media, a leading Video-Supply Side Platform (SSP) in Spain and Latin America.
AcuityAds has agreed to pay EU $12 million in cash and earn-outs in a deal expected to close in the second quarter.
“The ADman Media team has built a leadership position in the core markets that they serve with their video SSP which maximizes revenue for publishers more efficiently versus other video solutions in the market,” stated Tal Hayek, Chief Executive Officer of AcuityAds. “This acquisition will complement our industry-leading AI-powered programmatic offerings for brands and agencies with a unique and differentiated publisher-direct offering and will enable AcuityAds to participate in a larger share of the digital advertising ecosystem to help advertisers and publishers drive greater returns from their digital spend.”
ADman Media is headquartered in Spain and has sales offices in the U.S., France, Argentina, Brazil, Chile, Colombia and Mexico.