Santa Monica's Adconion Aqcuired by Amobee for $209M
LA Biz 6/11/14 http://www.bizjournals.com/losangeles/news/2014/06/11/adconion-acquired-by-amobee-in-digital-advertising.html
In a move that consolidates three companies in the digital advertising space,Amobee has inked to acquire Santa Monica-based Adconion’s North America and Australia operations as well as San Francisco’s Kontera Technologies Inc. Itself acquired two years ago by SingTel for $321 million, Amobee will pay $209 million for Adconion, which has been valued at $235 million, and $150 million for Kontera. Adconion’s European operations are not included in the deal.
"The SingTel Group has significant scale and customer relationships with over 500 million mobile customers, as well as intelligent networks, billing capabilities and extensive touch points,” said Amobee chairman Allen Lew in a statement. “Together with Amobee's advanced digital marketing technology and solutions, we will create relevant and innovative marketing campaigns across multiple channels for brands and advertisers."
Adconion offers cross-channel digital advertising solutions to brands including T-Mobile, Pizza Hut, Honda, Adidas, Kohl’s and Nintendo across display, video, email and social on all devices from a unified technology platform. Kontera provides real-time digital content analysis across mobile, web and social networks to help clients serve the most relevant ads to consumers. The acquisitions increase Amboee’s user base to 1.8 million globally and enhance the advertising technology in its portfolio.
“Amobee, Adconion and Kontera will bring together unique capabilities and strengths that will create exponential benefits for advertisers, agencies and publishers,” added Adconion CEO Kim Perell in a blog post. “Amobee’s mobile and programmatic technology, data and global presence, combined with Kontera’s social data and intelligence capabilities and Adconion Direct’s cross-channel platform technology, will allow us to continue our quest to become the global leader digital advertising.”
*Shared by Jeff Vertun