Ad tech company Extreme Reach said it agreed to acquire Adstream, which provides digital asset management, creative logistics and analytics.
Financial terms were not disclosed.
As the digital media business has grown, smaller companies and startups are being rolled up to provide advertisers with greater scale and one-stop shopping.
Upon closing of the deal, 400 Adstream employees will join Extreme Reach.
Three Adstream executives will get executive roles with the combined business, with Daniel Mark, CEO of Adstream becoming chief strategy officer. Adstream’s Katie Nykanen will be chief product officer and Tim Emly, will be senior VP finance
“In joining Extreme Reach, we provide brands worldwide with a competitive edge, enabling them to move quickly and flawlessly, with more insights at their fingertips,” said Mark. “Our companies share a common philosophy and are aligned at a strategic level. In joining Extreme Reach, we answer the call from our global clients with the integration of video ad serving and talent & rights management to all we do today. Together we are excited for this defining moment, not only for our clients around the world but also for our teams as well.”
The transaction is expected to close in the second quarter of 2021, upon approval from Australia's Foreign Investment Advisory Board.
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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