Amobee has emerged as the winner of an auction for the assets of ad tech firm Videology. The company filed for Chapter 11 bankruptcy protection in May, and at the time, announced that Amobee would be purchasing a large portion of its assets in a deal that was thought to be worth $45m (£33m).

At the time, Videology’s CEO Scott Ferber, said: “We are confident that todays transaction represents the best path forward for Videology and is in the best interests of all our stakeholders. Most importantly, we anticipate it being seamless for our valued clients and partners, while providing Videology the financial stability and strategic position to drive future growth.”

The price of the company’s assets was driven up, however, as other companies, including a consortium of broadcasters – including ITV, Channel 4, ProSieben.Sat1 TF1 and Mediaset – entered the race with a view to investing in a management buy-out. Amobee won the auction with a bid of $117.3m.

Prior to its troubles, Videology had previously attracted the interest of AT&T, but first ran into problems in March, when it was revealed that it was shedding 5-6 per cent of its global workforce. The Chaper 11 filing came two months later.