Independent connected TV (CTV) advertising delivery and measurement platform Innovid has completed its acquisition of global measurement and attribution platform for converged TV, TVSquared, in a cash and stock transaction that values the company at approximately $160m (£120m).

The companies said the transaction will unlock a new, independent currency-grade standard for cross-platform TV measurement, powered by the scale and automation of a global ad server. They added that by combining Innovids expansive ad serving footprint of more than 95m connected homes, with TVSquareds TV measurement and attribution platform, inclusive of TV viewing and ad occurrence data across millions of households globally, they will create an independent, single source of truth for advertisers.

Innovid’s ad serving, creative personalization, measurement and identity management capabilities will be combined with real-time, cross-platform analysis, including measurement and outcomes such as reach, frequency and unique unduplicated reach, as well as performance metrics.

“We believe the combination of independent global ad serving and cross-platform measurement sits at the heart of solving TV measurement’s biggest challenges,” said Innovid CEO and Co-founder, Zvika Netter. “We’ve spent over a decade building foundational ad delivery and personalization technology to power TV across channels and devices. Now, together with TVSquared by Innovid, we provide advertisers a complete view of the total TV and digital universe through a scalable, currency-grade measurement platform.”