Innovid acquires converged TV measurement firm TVSquared for £118m

tvsquared bought by innovid

US-based connected TV platform Innovid, has bought Edinburgh-based converged TV measurement firm TVSquared in deal worth £118m ($160m).

Innovid, an independent connected TV (CTV) advertising delivery and measurement platform, entered into a definitive agreement in which it will acquire TVSquared in a cash and stock transaction. 

Innovid buys TVSquared

With the industry calling for a more transparent and accountable TV ecosystem, the deal establishes a new currency-grade standard for cross-platform measurement, powered by the scale and automation of an independent global ad server.

“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,” said Zvika Netter, CEO and Co-Founder of Innovid. 

“Additionally, we immediately accelerate and broaden our scope globally, as brands, agencies, publishers, and broadcasters on six continents rely on TVSquared to maximise reach, identify the right audiences and drive business growth with TV. 

“As the market demands greater accountability, Innovid and TVSquared are reimagining the future of cross-platform TV measurement together.”

Jo Kinsella, President, TVSquared, said: “By digitising cross-platform TV advertising, we believe this combination will give advertisers, across the ecosystem, everything they need to transact at scale. 

“Together, TVSquared and Innovid are at the centre of TV’s transformation, meeting the market’s needs for a converged TV measurement alternative.”

Calum Smeaton, CEO and Founder, TVSquared, said: “Innovid and TVSquared share complementary visions to transform TV measurement through a comprehensive view of audiences across all devices and platforms worldwide.  

“Joining forces establishes a cross-platform measurement solution that maps one of the largest datasets of audiences, homes, and devices, at scale, across linear, CTV, and digital video.”

Upon closing, Smeaton will be stepping down as TVSquared CEO to take on a strategy role in support of the integration with Innovid. 

TVSquared’s president, Kinsella, who has been with the company almost since its inception will join the Innovid executive team, reporting into Netter and leading the measurement business.

The combined entity will represent buy-and sell-side customers and process billions of impressions events daily. 

Moreover, the joint offering will include ad serving, creative personalisation and optimisation, outcomes and audience measurement, including reach, frequency and unique unduplicated reach, for the total TV and digital universe.

The TVSquared acquisition is expected to close by the end of Innovid’s fiscal second quarter, subject to the satisfaction of customary closing conditions. 

All financial information for TVSquared is prepared under UK GAAP which may not be comparable to financial results prepared under US GAAP. 

TVSquared was advised by LUMA Partners.