- Uniquely Positioned as a High-Growth Programmatic Self Service Video Platform
- Transaction Provides $50 Million of Additional Capital for Strategic Investment and Expansion
NEW YORK – Tremor Video (NYSE:TRMR), a leading video monetization software company, announced that it has agreed to sell its buyer platform to Taptica International, Ltd (AIM: TAP), a global mobile advertising technology platform, for total consideration of $50 million, subject to adjustments set forth in the acquisition agreement. The transaction is expected to close today August 7, 2017.
Tremor Video Focuses Business as Pure-Play Sell Side Software Platform. Sells Buyer Platform to Taptica for $50MM.
- Tremor Video is now a fully programmatic self-service platform for premium video partners.
- Focuses resources to further expand leadership position in Connected TV and OTT.
- Provides additional capital for strategic international investment across global sell side portfolio.
- Eliminates any perceived friction with third party demand partners.
“Today we are at a significant inflection point for Tremor Video,” said Paul Caine, Chairman of the Board. “The sale of our buyer platform allows us to focus our investment on the biggest growth-driver of our business. As consumers continue to shift their viewing behavior towards digital video and OTT, we believe there is a large market opportunity to capitalize on these trends as the leading pure-play video SSP.”
Mark Zagorski, CEO, Tremor Video said, “The transaction provides a clear path to accelerate the expansion of our SSP, which has experienced significant growth since its introduction and triple digit growth year-over-year. This strategic decision positions us even more advantageously with premium video publishers and leading DSPs to support the evolution of video advertising by developing the next generation of software and services for premium video content creators across all devices and formats.” Mr. Zagorski added, “Our heritage of excellence, innovation and delivering for our clients will continue to be central to the future of Tremor as we move forward with formidable focus and firepower to invest and enhance our platform.”
Paul Caine added, “The demand business is in great hands with Taptica and we look forward to working with them in the future.”
The Raine Group acted as exclusive financial advisor on the deal and Cooley LLP acted as legal counsel to Tremor Video in connection with this transaction.
RBC Capital Markets acted as exclusive financial advisor and Naschitz, Brandes, Amir & Co. acted as legal counsel to Taptica in connection with this transaction.
About Tremor Video
Tremor Video (NYSE: TRMR) is a video monetization software company that helps premium publishers maximize advertising return across mobile, desktop, and OTT video inventory, providing greater control, transparency, safety and effectiveness.