Innovid (NYSE: CTV), a leading independent connected TV (CTV)
advertising delivery and measurement platform, and TVSquared Ltd.
(“TVSquared”), an independent global measurement and attribution
platform for converged TV, have entered into a definitive agreement
in which Innovid will acquire TVSquared in a cash and stock
transaction valued at approximately $160 million.
With the industry calling for a more transparent and accountable
TV ecosystem, the deal establishes a new currency-grade standard
for cross-platform measurement, powered by the scale and automation
of an independent global ad server.
“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,” said 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.”
“Innovid and TVSquared share complementary visions to transform
TV measurement through a comprehensive view of audiences across all
devices and platforms worldwide,” said Calum Smeaton, CEO and
Founder, TVSquared. “Joining forces establishes a cross-platform
measurement solution that maps one of the largest datasets of
audiences, homes, and devices, at scale, across linear, CTV, and
digital video.”
Upon closing, 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 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. All financial information for
TVSquared is prepared under UK GAAP which may not be comparable to
financial results prepared under US GAAP. TVSquared was advised by
LUMA Partners.
Management will hold a conference call to discuss the
acquisition, Q4 and Full Year 2021 financial results on February 24
at 8:30 a.m. EST. Speakers will include Zvika Netter, Co-founder
and Chief Executive Officer, Tanya Andreev-Kaspin, Chief Financial
Officer, and Tal Chalozin, Co-founder and Chief Technology
Officer.
About InnovidInnovid powers connected TV (CTV)
advertising streaming, personalization, and measurement for the
world’s largest brands. Through a global infrastructure that
enables data-driven personalization, real-time decisioning, scaled
ad serving, and accredited measurement, Innovid offers its clients
and partners streamlined solutions that optimize the value of
advertising investments across screens and devices. Innovid is an
independent platform that leads the market in CTV innovation,
powered by proprietary technology and exclusive partnerships
designed to fuel the future of TV advertising.
Headquartered in New York City, Innovid serves a global client
base through offices across the Americas, Europe, and Asia Pacific.
To learn more, visit innovid.com or follow us on LinkedIn or
Twitter.
About TVSquaredTVSquared is one of the largest
independent global measurement and attribution platforms for
converged TV. TVSquared’s scalable ADvantage platform measures the
effectiveness of linear, addressable and OTT/CTV. We power
always-on insights for thousands of advertisers globally, including
reach and frequency, unique reach, outcomes and audience. We
deliver one of the richest pictures of TV ad measurement and
attribution, inclusive of over 100 million households globally and
more than 75 CTV platforms. Trusted by the entire TV ecosystem as
the single source of truth, TVSquared measures TV how people watch
it – across platforms and screens. For more information, visit
www.tvsquared.com.
Forward Looking
StatementsThis press release includes “forward looking
statements” within the meaning of the “safe harbor” provisions of
the United States Private Securities Litigation Reform Act of 1995.
All statements contained in this press release other than
statements of historical facts, including, without limitation,
statements regarding Innovid’s future financial and business
performance for the full-year 2022, attractiveness of Innovid’s
product offerings and platform and the value proposition of
Innovid’s products, are forward-looking statements. When used in
this press release, the words “estimates,” “projected,” “expects,”
“anticipates,” “forecasts,” “plans,” “intends,” “believes,”
“seeks,” “may,” “will,” “should,” “future,” “propose” and
variations of these words or similar expressions (or the negative
versions of such words or expressions) are intended to identify
forward-looking statements. These forward-looking statements are
not guarantees of future performance, conditions or results, and
involve a number of known and unknown risks, uncertainties,
assumptions and other important factors, many of which are outside
Innovid’s management’s control, that could cause actual results or
outcomes to differ materially from those discussed in the
forward-looking statements. Important factors, among others, that
may affect actual results or outcomes include: Innovid’s ability to
execute on its plans to develop and market new products and the
timing of these development programs; Innovid’s estimates of the
size of the markets for its solutions; the rate and degree of
market acceptance of Innovid’s solutions; the success of other
competing technologies that may become available; Innovid’s ability
to identify and integrate acquisitions including the ultimate
consummation and integration of the acquisition of TVSquared; the
performance of the combined businesses of Innovid and TVSquared;
the performance and security of Innovid’s services; potential
litigation involving Innovid; and general economic and market
conditions impacting demand for Innovid’s services. Innovid does
not undertake any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
Contacts
Press ContactChris
Hariharchris@crenshawcomm.com201-892-9812
Investor Relations ContactMiri Segal-Scharia
Miri_Segal@innovid.com917-607-8654
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