Mediaocean has announced its acquisition of Innovid, a transaction with an enterprise value of approximately $500 million and an equity value of ~$525 million. This deal involves Innovid merging with Flashtalking to create an independent, omnichannel ad tech platform. The acquisition is expected to close in early 2025.
The combined organization will offer a broad array of complementary offerings, including ad delivery, creative personalization, measurement, and optimization across various channels such as digital, social, CTV, and linear TV.
Zvika Netter, CEO & Founder of Innovid, will lead the combined ad tech organization as CEO, reporting to Bill Wise, Co-founder & CEO of Mediaocean. Grant Parker, the current head of Flashtalking, will serve as the president of the combined ad tech organization, reporting to Netter. Additionally, Netter will join the board of Mediaocean.
The goal of this acquisition is to provide independent technology alternatives to big tech platforms and empower advertisers with increased control over data and decisions. The merger is aimed at fostering innovation, driving growth, and building the future for brands, agencies, and publishers.
Deutsche Bank Securities Inc. is serving as the financial advisor for Mediaocean, while White & Case is providing legal advisory services, with strategic consulting being provided by Bain & Company and 3C Ventures. On the other hand, Evercore is acting as the financial advisor for Innovid, with legal advisory services being provided by Latham & Watkins. The market has reacted to these announcements by moving the company's shares 86.7% to a price of $3.02. For more information, read the company's full 8-K submission here.
