CTV ad delivery and measurement platform Innovid has acquired TVSquared – the measurement and attribution platform for CTV – in a cash-and-stock deal worth approximately $160 million. The companies have said that the deal will bring about a new “currency-grade standard” for cross-platform measurement. Innovid has also said that the transaction positions it to act as a single source for ad-serving and measurement for converged TV, offering buy- and sell-side customers creative personalisation and optimisation outcomes for campaigns, as well as measurement of reach, frequency and unique unduplicated reach for the total TV and digital universe.
TVSquared has reported that its total preliminary revenue for 2021 is expected to be $20-22 million. The company – with clients and partners that include NBCUniversal, Sky, Roku and Hulu – says it tracks more than 100 million households across the globe, and over 75 CTV platforms. The purchase price agreed in the deal consists of $100 million in cash and approximately $60 million in stock consideration. The transaction is expected to conclude by the end of Innovid’s fiscal second quarter.
Zvika Netter, CEO and Co-Founder of Innovid said: “In acquiring TVSquared, we aim to provide the most complete view of the total TV and digital universe through a scalable, currency-grade measurement platform. Additionally, we immediately accelerate and broaden our scope globally, as brands, agencies, publishers, and broadcasters on six continents rely on TVSquared to maximise reach, identify the right audiences and drive business growth with TV. As the market demands greater accountability, Innovid and TVSquared are reimagining the future of cross-platform TV measurement together.”
Calum Smeaton, CEO and Founder of TVSquared, also commented: “Innovid and TVSquared share complementary visions to transform TV measurement through a comprehensive view of audiences across all devices and platforms worldwide. Joining forces establishes a cross-platform measurement solution that maps one of the largest datasets of audiences, homes, and devices, at scale, across linear, CTV, and digital video.”
In July 2021, NBC Olympics – a division of the NBC Sports Group – selected Innovid to provide ad management solutions for its coverage of the Games of the XXXII Olympiad which took place in Tokyo last summer. Later in the year, the company began trading on the New York Stock Exchange, and has since released preliminary full-year 2021 financial results, estimating revenues of $89 million-$90 million (with a 30-31% year-over-year growth).
