DG's Tech Businesses Renamed Sizmek Following Sale Of TV Ops
After DG's sale of its TV ad distribution operations, which execs expect to close Feb 7, its remaining businesses become available under the new company name Sizmek, CMO Ricky Liversidge told Media Daily News.
Open ad management company Sizmek will refocus the remaining businesses -- MediaMind, EyeWonder, Peer39 and Republic Project and others -- to support online advertising. Liversidge
expects the new public company to start trading Monday on NASDQ under the ticker SZMK.
The TV distribution business sold to Extreme Reach for $485 million.
Since the DG brand went with the TV business company, execs had to create a new name and public stock trading ticker. Neil Nguyen, CEO and president, will continue to run the newly named company. The technology platform rebrands to Sizmek MDX from DG MediaMind. The products will take on category names such as Video, Mobile and Dynamic Creative. The idea is to simplify product names and company focus.
Marketers love innovation, but innovation creates fragmentation, Liversidge said -- a problem Sizmek aims to solve. For starters, the industry will likely see a data management platform (DMP) and best practices. It would give advertisers a consolidated view of inventory for programmatic media buying.
"We collect more than 150 types of performance metrics for ads we serve," Liversidge said. "We think about how to use data to drive real-time decisions."
As DG, the company reported $38.2 million Q3 2013 revenue -- up 13% from the prior year, although it hasn't released Q4 earnings. "Year-to-date revenue comes in about $113 million with about 15% growth," Liversidge said. "We're profitable."