Standard Media Index has been sold to private equity firm GTCR via its portfolio company Dreamscape, a partnership with Scott Knoll, David Hahn and Michael Iantosca, all formerly of Integral Ad Science.
Financial details of the transaction were not disclosed.
SMI's chief executive officer, James Fennessy, will step down from and become a member of Dreamscape’s Board of Directors and remain a consultant to the business. Knoll will assume the role of CEO effective immediately.
Jane Ractliffe, SMI AU/NZ managing director: "We’re thrilled to see our vision for creating the leading advertising intelligence company has been valued by the Dreamscape team.
"And it’s clear the values of our new investors are very much aligned with those of SMI given their success in growing IAS into the leading Digital campaign measurement business.’’
"We look forward to working with them to deliver even further benefits to our clients and agency partners.
"I’d also like to thank my wonderful AU/NZ team for all their work; the Australian media agency leads who facilitated introductions to their global counterparts and also the team at Bailador Investments who backed our vision and stood by us as we expanded internationally.’’
Dreamscape, headquartered in Salt Lake City, was founded in May 2020 with a focus is to acquire companies and assets as part of a strategy to build a leading marketing technology business.
The investment in SMI is the second by Dreamscape. Last month it announced an investment in SQAD, a leading advertising research, analytics, and media planning software company.
“We see tremendous upside potential in SMI and its advertising software solutions,” said Craig Bondy, MD and co-head of TMT at GTCR.
“The company is well-positioned in the marketing and advertising industry with deep relationships with its partners and customers which have served it well.
"We believe that our investment, alongside the Dreamscape team, will provide the resources to expand SMI’s current product portfolio to address new markets and create fully integrated solutions for its customers."
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