More CTV consolidation as TVSquared sells to Innovid for $160m

More CTV consolidation as TVSquared sells to Innovid for $160m

Innovid, the connected TV ad delivery and measurement company, is buying rival platform TVSquared in a cash and stock deal valued at about $160m.

The two ad-tech brands will now seek to deliver a new “currency-grade standard for cross-platform measurement”, powered by an independent global ad server.

Callum Smeaton, the founder and CEO of TVSquared, is stepping down after the deal closes to take on a “strategy role” to support the integration with Innovid.

The combined company will represent buy-and sell-side customers in the growing global connected TV marketplace, which is undergoing a surge of with mergers and acquisitions.

Last year’s wave of consolidations include Magnite buying SpotX; Verve acquiring Nexstar; Capital Croissance buying Smart Adserver; LiveRamp acquiring DataFleets; and District M merging with Sharethrough.

The new Innovid offering will include ad serving, creative personalisation and optimisation, outcomes and audience measurement, including reach, frequency and unique unduplicated reach, for the total TV and digital universe.

“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,” Zvika Netter, CEO and Co-Founder of Innovid, said.

“Additionally, we immediately accelerate and broaden our scope globally, as brands, agencies, publishers, and broadcasters on six continents rely on TVSquared to maximise reach, identify the right audiences and drive business growth with TV.”

The TVSquared acquisition is expected to close by the end of Innovid’s fiscal second quarter, subject to the satisfaction of customary closing conditions.

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