Digital marketing technology firm Amobee has officially won a bid to buy certain assets from Videology, the advanced TV and video advertising software provider that declared bankruptcy in May.
Amobee was the “stalking horse” bidder in the bankruptcy proceeding, meaning that it set a price floor for the assets, but other buyers could submit bids of their own. In the end Amobee will pay approximately $101 million for the Videology assets, with adjustments for accounts receivable at closing totaling $20.9 million.
As part of the deal, Amobee will be acquiring Videology’s technology platform and intellectual property, as well as some other assets.
Videology, which launched as a programmatic ad platform, was an early player in the advanced TV and video advertising space.
Amobee is owned by the Singaporean telecom giant Singtel, which bought the firm in 2012. It says it hopes Videology’s assets will help give the company more of a presence in the advanced TV and video market.