The deal comes at a time when cross-platform measurement is a focus of networks and advertisers, and companies in the ad-tech and data business are looking to add capabilities in order to compete.
“In acquiring TVSquared, we aim to provide the most complete view of the total TV and digital universe through a scalable, currency-grade measurement platform,” Innovid CEO and co-founder Zvika Netter said.
TVSquared is one of the measurement companies that replied to NBCUniversal‘s request for proposal to provide a cross-platform ad currency. In a recent report, NBCU said that, unlike other contenders that were either “approaching mastery” or “developing mastery,” TVSquared was “developing competency” in the area.
“Additionally, we immediately accelerate and broaden our scope globally, as brands, agencies, publishers, and broadcasters on six continents rely on TVSquared to maximize reach, identify the right audiences and drive business growth with TV,” Netter said. “As the market demands greater accountability, Innovid and TVSquared are reimagining the future of cross-platform TV measurement together.”
TVSquared CEO Calum Smeaton will be stepping down. He will take on a strategy role in support of the integration with Innovid.
TVSquared president Jo Kinsella (an upcoming Multichannel News Wonder Woman) will join the Innovid executive team, reporting to Netter.
Innovid released preliminary fourth-quarter financial results. It said adjusted EBITDA for the period is expected to be between $1 million and $2 million on revenue of between $25 million and $26 million.
The ad tech world has been busy with companies going public, making acquisitions or being sold as interest in CTV has increased.
Another measurement company, Samba TV, filed for its IPO with the SEC in November. ■
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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.