• by Alex Weprin , May 10, 2018

The video advertising firm Videology said on Thursday that it was filing for Chapter 11 bankruptcy protection. At the same time, the firm announced that it had signed an asset purchase agreement with the ad-tech firm Amobee.

As part of the bankruptcy process, other parties will be able to submit higher offers to acquire the firm's assets.

Videology, which launched as a programmatic ad platform, was an early player in the advanced TV and video advertising space. 

In a statement, Videology founder and CEO Scott Ferber said that the sale process would give Videology "the financial stability and strategic position to drive future growth.””

Amobee is a California-based marketing technology firm owned by the Singaporean telecom giant Singtel, which bought the firm in 2012.