Mediaocean agreed to acquire Flashtalking, combining its budget management capabilities with the ability to serve ads in digital environments.
Terms were not disclosed, but according to published reports Mediaocean is paying $500 million for Flashtalking.
The deal comes at a time when ad tech companies are either merging or going public as the industry consolidates. Mediaocean reportedly is also considering an initial public offering.
“As we continue to innovate, it’s crucial to have technology that enables us to meet the moment for consumers,” said Deborah Wahl, CMO of General Motors, in a statement provided by Mediaocean. “It’s encouraging to see companies like Mediaocean and Flashtalking come together to deliver on the omnichannel advertising imperative. The industry needs a neutral and independent player in the ecosystem to enable media convergence.”
Flashtalking and Mediaocean have been working together since 2018. Together they handle about $200 billion in annual media spending and 1 trillion monthly ad impressions.
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