Described as an “independent global attribution and measurement platform for converged TV” and chaired by Scottish tech industry pioneer Chris van der Kuyl, TVSquared is being acquired by connected TV advertising delivery and measurement platform. (CTV) Innovid in cash and shares. transaction, in an attempt to “provide the most comprehensive view of the total television and digital universe.
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The deal is expected to close by the end of Innovid’s second fiscal quarter, subject to applicable requirements, and the Edinburgh firm was advised by Luma Partners. It also comes as TVSquared celebrates its 10th anniversary this year, and it is understood that the company’s 150 staff, around 100 of whom are based in Edinburgh, will transfer.
“Joining forces establishes a cross-platform measurement solution that maps one of the largest datasets of audiences, households and devices, at scale, across linear, CTV and digital video.”
Following the closing of the deal, Mr. Smeaton will step down as CEO of TVSquared to take on a strategic role in supporting the integration with Innovid, and the Scottish firm’s chairman, Jo Kinsella, who has been with the company “almost since its inception”, it will. He joins the Innovid executive team, reporting to the latter’s co-founder and CEO, Zvika Netter, and leading the measurement business.
Ms Kinsella said: “By digitizing cross-platform TV advertising, we believe this combination will give advertisers, across the ecosystem, everything they need to transact at scale. Together, TVSquared and Innovid are at the center of the TV transformation, meeting the market’s need for a converged TV measurement alternative.”
Netter said: “With the acquisition of TVSquared, our goal is to provide the most comprehensive view of the total television and digital universe through a scalable, monetary-grade measurement platform.
“In addition, we are immediately accelerating and expanding our reach globally, as brands, agencies, publishers and broadcasters on six continents trust TVSquared to maximize reach, identify the right audiences and drive commercial growth with television. As the market demands greater accountability, Innovid and TVSquared are reinventing the future of cross-platform TV measurement together.”
Mr Van der Kuyl, Head of investment vehicle Chroma Ventures and Chairman of TVSquared, said: “The best part of my job as Chairman has been supporting the development of the fantastic team and this is a monumental and well-deserved moment for all of them. . .
“This chapter in history begins and ends with Calum Smeaton, who is a world-class tech entrepreneur and someone who is willing to take risks to step up and seize opportunities. I have known Calum for most of my professional career and I will always be grateful that he has chosen to take on this idea and lead this company.
“It has been an honor to invest in the company and serve as president during this early phase of the company’s growth. Having transferred a significant portion of our investment into Innovid stock, we now look forward to being part of the next phase of growth.”
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