MARKETS & INVESTING, MEDIA & MARKETING | Staff Reporter, Singapore

Singtel arm to buy assets from US advertising firm for US$101m

The deal includes Videology’s tech platform, intellectual property, and assets around US$5.3m.

Singtel subsidiary Amobee won a bankruptcy auction to acquire US$101m ($137.64m) worth of assets from New York advertising firm Videology, an announcement revealed.

The acquisition will include Videology’s technology platform, intellectual property, and other assets with estimated net book value of US$5.3m ($7.22m).

According to Singtel, the move is eyed to boost Amobee’s omni-channel platform and aid marketers to answer the growing consumer demand for premium video and connected TV content.

“We anticipate the completion of the acquisition to be seamless for Videology’s valued clients and partners, providing the financial stability and strategic position to drive future growth,” Videology founder and CEO Scott Ferber commented.

The announcement noted that the purchase price is subject to adjustments for accounts receivable at closing, estimated to be approximately US$20.9m ($28.48m).

Amobee is a Singtel subsidiary that allows marketers to plan and activate cross channel, programmatic media campaigns using real-time market research, proprietary audience data, and advanced analytics.

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