Amobee, a digital marketing technology company owned by Singtel, has agreed to acquire independent ad tech company Turn for $310m (£281m). The acquisition is expected to close in the first half of 2017, subject to regulatory approvals and closing conditions.
Turn offers data and analytic solutions, through a data management platform, to enable marketers to better understand customer interactions across ad formats and devices – as well as operating a demand side platform for programmatic buying across mobile, video and display.
Bruce Falck, CEO of Turn, said: “Turn’s vision is to help marketers understand what works, what doesn’t, and why, by providing a powerful insights, analytics and programmatic buying platform. Today is a significant moment for us and a recognition of the quality of our technology platform.”
With the acquisition Amobee says it will expand its existing programmatic and data management capabilities – offering marketers ‘an independent end-to-end advertising and data management platform across all channels, formats and devices’. Furthermore, it will
Amobee, acquired by Singtel in 2012, will see the acquisition of Turn as another piece of the ad tech puzzle. A puzzle it began piecing together when it bought cross-channel digital ad company Adconion for $235m, and digital content intelligence firm Kontera for $150m, in 2014.
“With marketers increasingly shifting from traditional to digital media to engage consumers, global digital ad spend is expected to exceed US$200 billion in 2017,” said Samba Natarajan, Singtel’s CEO of Group Digital Life. “The strategic acquisition of Turn strengthens Amobee’s technological edge in the rapidly evolving market of digital advertising and accelerates its growth into a significant global digital marketing player. It will also prime Amobee for expansion beyond the US and into the Asia Pacific.”