Tremor International, a specialist in video, data, and connected TV advertising, has announced the closing of its previously announced acquisition of advertising platform Amobee in a deal worth $239 million (€239.1m).

“We are pleased to complete the strategic Acquisition of Amobee, which we anticipate will increase our global market presence, significantly enhance and expand our technology capabilities, add new linear TV capabilities and cross selling opportunities, and enrich our growth and competitive positioning within the industry,” said Ofer Druker, Chief Executive Officer of Tremor International.

“We appreciate the ongoing support of all our stakeholders as we begin integrating Amobee into our operational strategy and technology offering. We will prioritise capitalising on growth opportunities created through the Acquisition, while working to quickly realise cost synergies and efficiencies, and remain committed to unlocking long-term value for our shareholders,” added Druker.

Tremor reiterated its expectation to achieve run-rate operating cost synergies of approximately $50 million on a combined pro forma basis following completion of the integration, with meaningful synergies expected by the end of 2022 and the majority expected by the end of 2023.

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Tags: amobee, Tremor