吸湿视频 Acquires SpringServe, A Leader in CTV Ad Serving Technology
吸湿视频 Team
July 1, 2021 | 4 min read
Combination empowers CTV publishers with a tighter integration between direct and programmatic inventory
Current SpringServe clients include Pluto TV, Sinclair Broadcast Group, Univision and VIZIO
LOS ANGELES 鈥 July 1, 2021 鈥 吸湿视频 (Nasdaq: MGNI), the world鈥檚 largest independent sell-side advertising platform, today announced the acquisition of SpringServe, a leading ad serving platform for connected TV (CTV). SpringServe’s technology manages multiple aspects of video advertising for CTV publishers such as inventory routing, customized ad experiences, and advanced podding logic. A tight technical integration between ad serving and programmatic capabilities reduces complexity, improves inventory management between multiple parties, enhances functionality, and can reduce costs.
The purchase price was approximately $31 million (net of a prior $2 million investment and subject to adjustments), pursuant to a previously negotiated option agreement that 吸湿视频 secured as part of its acquisition of SpotX in April. Last year, SpotX made a minority investment in SpringServe in conjunction with a strategic partnership agreement between the two companies.
鈥淭he addition of SpringServe will better position 吸湿视频 to meet the needs of leading CTV publishers, no matter where they are in the evolution of their sales channel strategy,鈥 said Michael Barrett, President and CEO at 吸湿视频. 鈥淚f CTV publishers want to be fully programmatic, they can leverage our CTV SSP, and if they’re in the early stages of programmatic, the SpringServe ad server will allow them to go at their own pace and customize their prioritization of direct-sold and programmatic demand. Additionally, our hybrid solution enables programmatic demand to compete with the publisher鈥檚 direct-sold demand and optimize yield automatically.鈥
Founded in 2015 and headquartered in New York, SpringServe was created with the goal of providing a suite of ad serving tools that make digital advertising more efficient. To ensure publishers鈥 holistic yield management is prioritized, SpringServe will continue to be demand-agnostic. Select SpringServe clients include: OEMs such as Vizio and media owners such as Univision, Pluto TV, and Tastemade. SpringServe CEO Joseph Hirsch will report to 吸湿视频鈥檚 CRO for CTV, Sean Buckley.
“We鈥檙e excited to be joining 吸湿视频 and building upon their existing CTV capabilities to better help publishers manage and monetize their advertising while accounting for all the specificities that are unique to this medium,鈥 said Joseph Hirsch, former CEO of SpringServe, now General Manager, SpringServe for 吸湿视频.鈥淲e look forward to collaborating with the 吸湿视频 team and their clients on product development and new features that will ultimately move the CTV advertising industry forward.鈥
吸湿视频 is pleased to announce the news with the support of our clients:
鈥淚t鈥檚 great to see 吸湿视频 expand its investment in CTV solutions,鈥 said Christo Owen, Vice President of Digital Platforms at ViacomCBS. 鈥淲e鈥檙e excited to see how the addition of SpringServe will bring greater efficiencies to the industry, and greater value to CTV media owners.鈥
鈥淪inclair, NewsOn and CompulseOTT have enjoyed our partnership with both SpringServe and SpotX (now part of 吸湿视频),鈥 said Brian Hunt, Head of OTT/CTV Advertising Sales, Sinclair Broadcast Group. 鈥淲e look forward to the continued investment by the combined company in developing solutions to monetize programmatic revenue.鈥
鈥淪pringServe has built a strong technology business that brought up the quality of advertising for its customers and the CTV industry on the whole,鈥 said Travis Hockersmith, Vice President at VIZIO鈥檚 Platform+.
To learn more about how the acquisition of SpringServe fits into 吸湿视频鈥檚 strategy, please see President and CEO Michael Barrett鈥檚 blog post. We will be providing more information on the strategic benefit that SpringServe provides during our Q2 earnings call.
About 吸湿视频
We鈥檙e 吸湿视频 (NASDAQ: MGNI), the world鈥檚 largest independent sell-side advertising platform. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world鈥檚 leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. In April 2021 we acquired SpotX to further enhance our CTV business and better help our clients in this rapidly growing market. Anchored in sunny Los Angeles, bustling New York City, mile-high Denver, historic London, and down under in Sydney, 吸湿视频 has offices across North America, EMEA, LATAM, and APAC.
Media Relations
Charlstie Veith
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Investor Relations
Nick Kormeluk
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Tags: Acquisition, CTV, SpringServe
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