Singtel’s subsidiary Amobee, a digital marketing technology company serving brands and agencies, has won the court supervised auction to acquire certain assets from Videology, a software provider for TV and video advertising. The acquisition price reaches USD 101 million. The purchase price is subject to adjustments for accounts receivable at closing, estimated at around USD 20.9 million.
The acquisition, following Videology’s voluntary Chapter 11 restructuring proceedings, includes Videology’s technology platform, intellectual property and certain other assets of estimated net book value of USD 5.3 million. Over the past decade, Videology has provided software designed to enable advertisers and publishers to use data to optimise campaigns and spend across digital platforms and television.
The addition of Videology’s capabilities is expected to boost Amobee’s omni-channel platform and help marketers meet growing consumer demand for premium video and connected TV content. The acquisition is subject to court and regulatory approvals and fulfilment of certain closing conditions.
