Mediaocean Buys CTV Ad Tech Firm Innovid for $500M, Merging with Flashtalking

Nov 21, 2024, 02:31 PM

Mediaocean, an ad software company, has agreed to acquire Innovid, a company specializing in Connected TV (CTV) ad technology, for $500 million. The deal values Innovid at $3.15 per share, representing a 94.4% premium over its market cap of approximately $240 million as of the market close on November 20. The acquisition will merge Innovid with Flashtalking, creating a leading independent omnichannel ad tech platform with capabilities in ad delivery, Dynamic Creative Optimization (DCO), and identity solutions. The transaction is expected to close in early 2025, addressing the industry's reliance on 'walled gardens' for data and control over ad placements.