People-based advertising technology company Viant is going to cease UK operations, just shortly after its parent company, Meredith Corporation, agreed to sell Time Inc. UK to private equity group Epiris.
Meredith only completed the acquisition of US mass media company Time Inc., and all its properties, at the end of January for $2.8bn. With this acquisition, Time-owned Viant was also picked up.
Prior to the acquisition, Time had already been looking to flog Time Inc. UK, and along with that Meredith has now decided to continue this trend by closing Viant’s UK operations as part of it continued divestment across its UK properties.
“Consistent with this strategic enterprise reorganisation, Viant has decided to close its UK offices,” Jon Schulz, Viant CMO, told The Drum. “We are working closely with our UK clients to facilitate a smooth transition of their business needs.”
Time acquired Viant back in early 2016 for an undisclosed sum, with an eye on bringing in the ad tech company’s first-party data and programmatic capabilities. This move was bolstered when Viant purchased mobile and cross-channel programmatic ad platform Adelphic last year.