Singtel-owned Amobee has confirmed its purchase of Videology, said to have been worth US$101.2m, as well as making a string of senior hires to the business.
Amobee first put in a bid for Videology in May, when videology filed for bankruptcy. In July, Amobee announced it had won the bankruptcy auction to the tune of US$117.3m, falling to $101.2m net purchase after adjustments.
On completing the acquisition of assets, Samba Natarajan, chief executive group of Singtel’s Group Digital Life, said the addition of Videology beefs up the Amobee ad tech offering in the video and TV space
“The successful acquisition of Videology’s assets accelerates the build out of our digital marketing business and expansion of its footprint across Asia Pacific. This creates further differentiation for Amobee’s digital marketing platform and enhances Amobee’s competitiveness in the rapidly converging market of TV and digital video advertising,” said Natarajan.
Singtel’s Amobee also bought ad tech business Turn in February 2017, marking the start of Singtel beefing up its ad tech offering significantly. Later in April 2017, Amobee and Turn announced a closer alliance, promising transparency to clients.
Amobee has also announced a string of senior hires to sit across the businesses; Scott Ferber, founder, chairman and CEO of Videology, joins Amobee as chief innovation officer, while Domenic Venuto, most recently general manager of IBM Watson’s Consumer Division and Watson Advertising, has been appointed chief operating officer and Erica Golden, previously head of global talent development at Apple, has been named chief people officer.
Kim Perell, CEO of Amobee, said: “Amobee’s successful acquisition of Videology’s assets gives our clients a next generation approach to reach and engage customers on a global scale across multiple devices and screens. Scott Ferber, Domenic Venuto and Erica Golden are exceptional industry leaders and visionaries in the fields of connected TV, artificial intelligence, machine learning and talent development; all three will play an instrumental role in driving Amobee’s next wave of growth and innovation.”