Israeli TV advertising management technology company SinTecMedia is acquiring the US digital advertising solutions company Operative Media Inc. for $200 million. The merged company will offer a range of tools that will help companies save costs by streamlining TV and digital advertising expenses.
Jerusalem based SinTecMedia was acquired in April by US private equity fund Francisco Partners for $400 million from Riverwood Capital, another US private equity fund. Founded 16 years ago, SinTecMedia took a big step forward in early 2014, when it acquired Pilat Media Global, a competitor listed on the UK AIM stock exchange in which it already had a 22.7% stake. SintecMedia paid $103 million for the rest of Pilat Media, a company whose business was identical to its own.
SinTecMedia CEO Amotz Yarden said, “Operative’s fantastic customer base and digital advertising solutions are the perfect complement to our own global client roster and television advertising products. With Operative as a key part of our offering, SintecMedia brings TV and digital ad management together, allowing media companies to streamline advertising infrastructure, increase profitability and drive the long term strategic control of their business.”
“SintecMedia’s acquisition of Operative is the best possible outcome for our clients and for all media companies working to maximize profitability as TV and digital channels start to intertwine,” said Lorne Brown, current CEO and Founder at Operative, who will become President at SintecMedia. “We are thrilled to join the SintecMedia team and look forward to continuing to create solutions for media companies in the future.”
Published by Globes [online], Israel business news - www.globes-online.com - on December 1, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016
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