Verve Group, a privacy-first omnichannel ad platform today announced the acquisition of digital ad tech platform, Smaato through a subsidiary of its parent company, Media and Games Invest SE (MGI).

The transaction places Smaato at an enterprise value of $170m (£122.82m) and positions Verve Group as one of the top global mobile ad exchanges, with a joint team of over 300 employees spread across 25 offices worldwide.

The acquisition of Smaato adds a powerful mobile-first supply-side platform (SSP) to Verve Groups full-stack suite of products. Further, the combined mobile ad exchanges of Verve Group and Smaato will have a reach of approximately two billion users worldwide, providing brands and agencies wider access to high-quality premium inventory.

“We are thrilled to welcome Smaato to the Verve Group family, and we look forward to extending their premium inventory and product suite to our partners,” said Chief Revenue Officer at Verve Group, Sameer Sondhi. “Smaato’s expansion into innovative omnichannel monetization solutions will play a key role in strengthening Verve Group’s offerings globally.”