Israeli mobile adtech company Taptica International Ltd. (AIM: TAP.L) has acquired Tremor Video's (NYSE: TRMR) demand side platform for $50 million, Tremor Video has announced. The acquisition will see the Tel Aviv based company double in size.
Taptica CEO Hagai Tal told the "Wall Street Journal" that the company had looked at other businesses in the sector as it looks to expand its presence geographically and extend its offering in the media-buying space, but it chose Tremor Video due to its scale.
Tal said, “We are seeing the budget that traditionally went to TV shifting into the digital area and we thought it was the obvious bet for us to grow."
Founded in 2007, Taptica held its IPO in 2014 when it was then called Marimedia, raising £17.9 million at a company value of $160 million. Last month three of the company's founders sold shares for $51 million in a secondary offering on AIM.
The company's Qadabra technology enables publishers to trade space on their sites electronically for the highest price possible. Marimedia changed its name after acquiring a company called Taptica for $13.8 million in 2014. Later that year it also acquired AreaOne for $15.6 million and earlier this month it acquired 57% of Japanese mobile adtech company Adinnovation for $5.7 million.
Published by Globes [online], Israel business news - www.globes-online.com - on August 9, 2017
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