Amobee has agreed to acquire the ad-tech company Turn for $310 million, bringing both Turn’s data management platform and demand-side advertising platform into the Singtel-owned Amobee’s tech stack.
The acquisition, announced by the companies Wednesday evening, will help expand Amobee’s programmatic advertising and data management capabilities for clients such as Airbnb, Dell and Lexus. The deal is expected to be completed during the first half of 2017.
According to Amobee CEO Kim Perell, the combined company turns the unit into one of the largest independent buy-side marketing providers. The move also helps prepare Amobee for expansion into Asia Pacific, where telecom operator Singtel has more than 640 million customers.
“Effectively powering advertisers’ digital marketing is about enabling them to better understand and reach their customers, and enhance the way they engage them, on a global scale,” Perell said in a statement announcing the acquisition. “To differentiate and capitalize on the growing market opportunity, we will offer world-class technology paired with advanced data and insights.”
In Turn CEO Bruce Falck’s explanation for the deal, he said the combined team will have the resources and scale, with further emphasis being put on mobile, data management and analytics. He said it will also give the more than 1,000 customers between the two companies additional capabilities though Amobee’s technology, such as by integrating social channels like Pinterest and Snapchat into its omnichannel DSP.
“The ad tech space is not without its challenges,” he said. “However, we uniquely have the opportunity to grow and build an even more exciting and valuable company for our customers, investors and employees. It’s early days in programmatic, so think of this as day two, the day we built an unstoppable platform to provide the world’s marketers with their one source of truth.”