Data-driven tech company Ve Interactive has acquired video advertising firm Optomaton for €5.13m (£4.3m) in a deal that aims to increase the company's presence in the rapidly growing video ad market.
Ve Interactive specialises in conversion enhancing technology and digital advertising, and is currently ranked as the fasting growing company in The Sunday Times' Hiscox Tech Track 100 list.
By acquiring Optomaton's video demand-side platform and the team behind the technology, Ve Interactive hopes to gain exposure in the video programmatic market, broadening its offering for existing clients and attracting new marketers.
In addition, the consolidation of Optomaton's digital ad methodologies into Ve Interactive's existing data-led platform will drive greater efficiency for users, reduce fees and combat ad fraud.
"We always strive to continually innovate and evolve our proposition for the benefit of our clients," said David J Brown, CEO and co-founder of Ve Interactive. "The acquisition of Optomaton puts us at the forefront of programmatic video technology and with over 40 per cent of programmatic bys expected to be in video by 2018, we are very excited to welcome the Optomaton team and their proprietary 'Volvelle' video technology into our business."
"Data has been a hot topic in the media for years but few companies are producing anything that works as efficiently as Ve Interactive’s technology," said Josh Mortenson, director of Optomaton. "Having worked with them on several campaigns in Scandinavia, we knew much more could be achieved through a closer partnership and were delighted when Ve suggested we become part of their global family.
"By joining Ve we now have the opportunity to further unlock the power of their data by applying it to video campaigns across the globe, improving our own reach and maximising the return for our clients.”
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