In the latest round of mergers and acquisitions (M&A) in the digital media landscape, video adtech company Innovid has agreed to acquire Taykey in a bid to bolster its ability to help advertisers deliver more relevant ads to audiences.
Financial details of the deal were not publicly disclosed, although having raised $32m since it was founded in 2009, the sum is likely to be considerable.
The purchase will add Taykey’s 40-strong headcount, 14 patents, and AI-based machine learning capabilities as well as a roster of clients such as Apple and Coca-Cola to the Innovid offering.
According to Innovid, brands have been reaching brands have been “reaching the right people, in the wrong places” with their advertising. However, given Taykey’s language processing capabilities, Innovid can now help them deliver their ads in more relevant environments, with the addition of this capability to its existing demand-side platform making for a more complete platform offering.
Zvika Netter, Innovid co-founder and chief executive officer, said the addition of Taykey’s capabilities to his company’s existing platform would enable it to aid advertisers media spend perform more effectively, given its “breadth of insights.”
He added: “There is massive opportunity for marketers to gain higher performance by leveraging real-time contextual intelligence for video content as a factor in how they plan, optimize and ultimately deliver video creative at scale.”
Amit Avner, Taykey chef executive officer, added: “We are thrilled that this powerful dataset can now be activated across the world’s largest video marketing platform, serving over one third of all video ads.”
Such audience insight tools have proven popular with buy-side adtech platforms as of late, with The Trade Desk recently purchasing Adbrain, also for an undisclosed sum, in a bid to better help its advertisers piece together cross-device customer IDs.