Innovid, an independent connected TV (CTV) advertising delivery and measurement platform, has struck a deal to acquire independent global measurement and attribution platform for converged TV, TVSquared, for $160m (£118m).

Innovid said the deal would establish a new currency-grade standard for cross-platform measurement, powered by the scale and automation of an independent global ad server. 

The combined entity will represent buy-and sell-side customers and process billions of impressions events daily. The joint 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.

Upon closing, TVSquared CEO and Founder Calum Smeaton will be stepping down as TVSquared CEO to take on a strategy role in support of the integration with Innovid. 

“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,” said Innovid CEO and Co-founder, Zvika Netter. “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. As the market demands greater accountability, Innovid and TVSquared are reimagining the future of cross-platform TV measurement together.”