Singtel’s digital ad division Amobee acquires Turn for $310M
Amobee just announced that it has agreed to acquire adtech companyTurnfor $310 million. Amobee used to bea mobile ad startup itself, beforea 2012 acquisitionby Singtel, where it remains a subsidiary.Since then, Singtel and Amobee have continued to make more acquisitions on the digital ad side, including Gradient X, Adconion and Kontera. Turn, meanwhile, operates both a data management platform and a demand-side platform forad buyers. It raised more than $150 millionin equity funding from investors, including Focus Ventures, Greenspring Associates, Fidelity Investments, BlackRock, Norwest Venture Partners, Trident Capital and Shasta Ventures. A few years ago, there were rumored plans for a Turn IPO.That never materialized, however perhaps because its been a tough time for adtech companies on the public markets (things might be picking up again). In a blog post, Turn CEO Bruce Falcksaid that after he joined the company in September 2015, We refocused on our roots as a technology and data science company and went to work solving new problems for marketers, especially across video, data and insights.
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