Telco Singtel is selling advertising technology business Amobee to global adtech Tremor International for US$239 million.
Tremor says the acquisition will create a compelling and scaled CTV and video end-to-end platform.
CEO Ofer Druker: “The acquisition of Amobee is expected to build upon Tremor International’s growth strategy and proven track record of successfully integrating companies that enhance and expand the capabilities and scale of its data-driven end-to-end technology and business platform, focused on CTV and video.
“Amobee would add several capabilities including campaign execution across linear and digital channels within a single platform.
“Additionally, the Transaction would fulfil our strategy to add significant global scale and self-service growth to our demand side platform, increase our US and international customer reach and data footprint, and drive more advertiser spend to our SSP, Unruly.
“We’ve recently achieved a number of important milestones that we believe will further scale and differentiate our platform.”
This includes a strategic relationship with VIDAA, a smart TV operating system and streaming platform, through a $25 million investment.
Singtel announced in March that Amobee, which it sees as a non-core business, was up for sale in March.
The telco says the divestment is in line with a strategic reset to sharpen its business focus and recycle assets and capital into growth areas with higher returns.
Yuen Kuan Moon, Singtel CEO, said: “We are actively reshaping our portfolio to ensure optimal allocation of resources towards new growth drivers, as well as improve shareholder value.”
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