Verve acquires Jun Group
June 21, 2024
Verve, an ad solutions suite for emerging channels, has acquired New York-based Jun Group, a mobile-first digital advertising technology company that delivers intelligent, privacy-first advertising for brands, agencies, and publishers. Jun Group has a 20-year history, boasting a number of relationships with Fortune 500 advertisers in North America. Acquired by Advantage Solutions in 2018, the company grossed $80 million in revenue in 2023.
Through the acquisition, valued at €170 million, Verve will expand its direct access to brands and agencies. Verve says the transaction will result in a more balanced sales model with 30 per cent demand-side business and 70 per cent supply-side business and will boost its size and profitability, increasing revenue by circa 23 per cent on an expected pro forma basis for the full year 2024.
“Over the past few years, we have built Verve into a strong, organically growing media company with a primary focus on the advertising supply side. With Jun Group, we are strengthening the demand side, which will enable us to achieve significant synergies,” said Remco Westermann, CEO of Verve. “With a better balance between supply and demand, we can further increase transparency and efficiency for our clients, both publishers and advertisers, in line with our mission of ‘Let’s make media better.’ This acquisition takes Verve to the next level, both operationally and in terms of growth and profitability, while reducing leverage.”
“I am thrilled about Jun Group joining forces with Verve. This acquisition marks an exciting new chapter for both companies. By combining our strengths, we are uniquely positioned to deliver unparalleled value to our clients. The synergy between Jun Group’s demand-side capabilities and Verve’s robust supply-side platform will create a powerhouse in the advertising technology space,” added Mishel Alon, CEO, Jun Group. “Together, we will drive innovation, enhance transparency, and set new industry standards. I am confident that our united efforts will not only foster growth and profitability but also reinforce our shared commitment to making media better for everyone.”
Alon will remain on board and continue to lead their team under the Verve umbrella, ensuring continuity and fostering a culture of innovation.