Innovid, a leading independent connected TV (CTV) advertising delivery and measurement platform, and TVSquared Ltd. (“TVSquared”), an independent global measurement and attribution platform for converged TV, have entered into a definitive agreement in which Innovid will acquire TVSquared in a cash and stock transaction valued at approximately $160 million.
The TVSquared acquisition is expected to close by the end of Innovid’s fiscal second quarter, subject to the satisfaction of customary closing conditions.
The combination of both companies expands independent, currency-grade measurement platform across TV, CTV & Digital facing, Nielsen, Kantar and Comscore offers in the audience measurement market.
With the industry calling for a more transparent and accountable TV ecosystem, the deal establishes a new currency-grade standard for cross-platform measurement, powered by the scale and automation of an independent global ad server.
Upon closing, Calum Smeaton (CEO and Founder, TVSquared) will be stepping down as TVSquared CEO to take on a strategy role in support of the integration with Innovid. TVSquared’s President, Jo Kinsella, who has been with the company almost since its inception, will join the Innovid executive team, reporting into Netter and leading the measurement business.
“In acquiring TVSquared, we aim to provide the most complete view of the total TV and digital universe through a scalable, currency-grade measurement platform,” said Zvika Netter, CEO and Co-Founder of Innovid. “Additionally, we immediately accelerate and broaden our scope globally, as brands, agencies, publishers, and broadcasters on six continents rely on TVSquared to maximize reach, identify the right audiences and drive business growth with TV. As the market demands greater accountability, Innovid and TVSquared are reimagining the future of cross-platform TV measurement together.”
“By digitizing cross-platform TV advertising, we believe this combination will give advertisers, across the ecosystem, everything they need to transact at scale,” said Jo Kinsella, President, TVSquared. “Together, TVSquared and Innovid are at the center of TV’s transformation, meeting the market’s needs for a converged TV measurement alternative.”
“Innovid and TVSquared share complementary visions to transform TV measurement through a comprehensive view of audiences across all devices and platforms worldwide,” said Calum Smeaton, CEO and Founder, TVSquared. “Joining forces establishes a cross-platform measurement solution that maps one of the largest datasets of audiences, homes, and devices, at scale, across linear, CTV, and digital video.”
The combined entity will represent buy-and sell-side customers and process billions of impressions events daily. The joint offering will include ad serving, creative personalization and optimization, outcomes and audience measurement, including reach, frequency and unique unduplicated reach, for the total TV and digital universe.
Innovid powers connected TV (CTV) advertising streaming, personalization, and measurement for the world’s largest brands. Through a global infrastructure that enables data-driven personalization, real-time decisioning, scaled ad serving, and accredited measurement, Innovid offers its clients and partners streamlined solutions that optimize the value of advertising investments across screens and devices. Innovid is an independent platform that leads the market in CTV innovation, powered by proprietary technology and exclusive partnerships designed to fuel the future of TV advertising.
Headquartered in New York City, Innovid serves a global client base through offices across the Americas, Europe, and Asia Pacific.
Innovid also announced today that its revenue for the full year 2021 is projected to be in the range of $89 million to $90 million reflecting 30% to 31% year-over-year growth.
Preliminary core clients KPI data of the comapny is running at improved rates compared to 2020 and demonstrates increasing strength in our CTV market position.
Total number of core clients grew from 95 to 109. Annual core platform clients retention grew from 94% to 97%. Annual core platform clients net revenue retention is expected to grow from 121% to nearly 127%.
Innovid anticipates full year 2022 organic revenue growth of approximately 22% to 28% with positive adjusted EBITDA.
TVSquared is one of the largest independent global measurement and attribution platforms for converged TV. TVSquared’s scalable ADvantage platform measures the effectiveness of linear, addressable and OTT/CTV. We power always-on insights for thousands of advertisers globally, including reach and frequency, unique reach, outcomes and audience. We deliver one of the richest pictures of TV ad measurement and attribution, inclusive of over 100 million households globally and more than 75 CTV platforms. Trusted by the entire TV ecosystem as the single source of truth, TVSquared measures TV how people watch it – across platforms and screens.
