• by Fern Siegel , November 22, 2024

Mediaocean has acquiring ad software provider Innovid for $500 million. The acquisition price offers a 100% premium over its current stock price.

Innovid will merge with Flashtalking to create an omnichannel ad tech platform.

The merger with Flashtalking allows the new entitly to grab a bigger share of the CTV and omnichannel ad market.

Innovid’s platform specializes in digital advertising for smart TVs, serving clients like Procter & Gamble globally. Zvika Netter, Innovid's CEO, will serve as CEO.

The combined company will supply ad delivery, creative personalization, measurement, and optimization across digital, social and TV.

Bill Wise, CEO of Mediaocean, said: “We believe Innovid, Mediaocean, and Flashtalking represent decades of innovation and integrations of some of the world's best technologies. Together, we will be a partner that brands, agencies, and publishers can rely on to innovate, drive growth and build their future.”

Innovid is much smaller than Mediaocean, which has more than 1,000 employees and generates $500 million in annual revenue. Innovid ended Q3 2024 with $38 million in revenue, according to CTech.