Leading native advertising firm Platform360 has been acquired by digital media consultants Iotec Global, where it will form a key component in Iotec's mission to increase transparency, quality and trust in the digital media supply chain. The terms of the acquisition have not been disclosed, but Platform360 previously raised $250,000 (£193,000) in its initial funding round.
The acquisition builds on Iotec's existing programmatic display, mobile and video offering, and will see Platform360's business rebranded as Iotec Native Limited. Sitting at the nexus of content and programmatic advertising, the firm was founded on the belief that brands need to focus on engagement and relevance to regain audience trust.
That ethos of transparency and context aligns closely with Iotec's ethical focus, while Platform360's expertise in creative execution and digital media sales will integrate with Iotec's data science and machine learning capabilities, offering unique synergies in the native environment.
"This is an important step in our exciting journey towards creating a trustworthy digital ecosystem," said Steve Hyde, co-chairman of Iotec. "With both businesses sharing a similar ethos and customer base, our clients will benefit from far greater quality and transparency of advertising."
The acquisition is the first step in an ambitious growth schedule for Iotec, which has a number of yet-to-be-announced partnerships and acquisitions planned for the near future, focusing on products and services that can drive greater quality through the digital media and creative supply chain.
"Platform360 and Iotec are entirely complimentary, both in terms of our respective tech stacks and, more importantly, our vision," said Oliver Low, co-founder and head of sales and marketing at Platform360. "Becoming part of Iotec gives us unprecedented access to deep industry know-how, network, and will help us scale Platform360's global footprint by making our unique native offering available to more clients."