AcuityAds to buy Adman Media
Toronto-based digital advertising firm AcuityAds is preparing to acquire Adman Media of Barcelona, Spain. The company's primary service supplies streaming video advertising to Spanish-speaking markets. According to AcuityAds, the purchase will increase its market in the United States, as well as Europe and Latin America.
AcuityAds will acquire 100% of the common stock of Adman Media in exchange for €1.7 million in cash immediately and additional performance-based payments over three years to a maximum of €12 million. The deal is expected to close in the second quarter of the year.
"The Adman Media team has built a leadership position in the core markets that they serve with their video SSP, which maximizes revenue for publishers more efficiently versus other video solutions in the market," said Tal Hayek, CEO of AcuityAds. "This acquisition will complement our industry-leading AI-powered programmatic offerings for brands and agencies with a unique and differentiated publisher-direct offering and will enable AcuityAds to participate in a larger share of the digital advertising ecosystem to help advertisers and publishers drive greater returns from their digital spend."