Ad tech company Tremor Video agreed to sell its buyer platform to Taptica International Ltd. for $50 million and plans to focus on programmatic sales for ads in premium video content.
Tremor Video said the move will give it resources to focus on connected TV and over-the-top and eliminates any perceived friction with third-party demand partners.
“The sale of our buyer platform allows us to focus our investment on the biggest growth-driver of our business," said Tremor chairman Paul Caine. “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.”
Caine said he expects Tremor and Taptica to work together in the future.
The deal provides Tremor with capital for strategic investments to build a global sell-side portfolio.
“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,” said Mark Zagorski, CEO of Tremor Video.
“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,” Zagorski said.
(Photo via GotCredit's Flickr. Image taken on May 3, 2016 and used per Creative Commons 2.0 license. The photo was cropped to fit 16x9 aspect ratio.)
