In a move that sees it focus the business as pure-play sell side software platform, video monetisation software company Tremor Video has agreed to sell its buyer platform to Taptica International, a global mobile advertising technology platform, for total consideration of $50 million, subject to adjustments set forth in the acquisition agreement.
“Today we are at a significant inflection point for Tremor Video,” said Paul Caine, Chairman of the Board. “The sale of our buyer platform allows us to focus our investment on the biggest growth-driver of our business. As consumers continue to shift their viewing behaviour towards digital video and OTT, we believe there is a large market opportunity to capitalise on these trends as the leading pure-play video SSP.”
“The transaction provides a clear path to accelerate the expansion of our SSP, which has experienced significant growth since its introduction and triple digit growth year-over-year,” commented,” Mark Zagorski, CEO, Tremor Video. “This strategic decision positions us even more advantageously with premium video publishers and leading DSPs to support the evolution of video advertising by developing the next generation of software and services for premium video content creators across all devices and formats. Our heritage of excellence, innovation and delivering for our clients will continue to be central to the future of Tremor as we move forward with formidable focus and firepower to invest and enhance our platform.”
“The demand business is in great hands with Taptica and we look forward to working with them in the future,” concluded Caine.