Adstream New York
Tue, 20 Apr 2021 15:25:10 GMT
Extreme Reach (ER), the complete asset management solution for TV and video advertising, today announced its agreement to acquire Adstream, a leading global provider of digital asset management, creative logistics and analytics solutions. Through the acquisition, Extreme Reach will provide brand marketers and all their global partners with a seamless, all-in-one brand activation platform that removes complexity from the entire lifecycle of creative asset management, mitigating risk, restoring control and increasing agility, visibility and multi-team productivity.
From concept to campaign launch to reuse and storage of assets, marketers in all regions of the world will work cohesively in a centralised platform. The combined offering will provide global creative asset management, talent & rights management, video ad serving and TV/CTV/OTT activation, creating one agnostic and data-rich deployment platform.
The marketing and advertising ecosystems confront an increasingly fragmented media landscape, particularly when it comes to video. The multitude of platforms, channels, tech partners, and asset formats needed to reach consumers on every screen have added untold complexity and friction in rights management and in the relay race between the many teams who launch and manage campaigns. As legacy, error-prone manual processes reach the breaking point, brands need a transformative reset.
“Our companies have shared a mission from day one to connect and simplify every inter-related step in brand campaign activation, no matter how complex the media landscape becomes,” said Tim Conley, CEO and co-founder of Extreme Reach. “This acquisition gives us the global scale to transform creative asset management and omni channel campaign activation worldwide, setting a new standard that meets today’s challenges. I look forward to working with Adstream’s talented leaders and global teams to combine the best technology of both companies, solving marketers’ need for a comprehensive solution. By coming together, we establish a new paradigm for success — for our clients and ourselves — now and for the future.”
“In joining Extreme Reach, we provide brands worldwide with a competitive edge, enabling them to move quickly and flawlessly, with more insights at their fingertips,” said Adstream CEO, Daniel Mark. “Our companies share a common philosophy and are aligned at a strategic level. In joining Extreme Reach, we answer the call from our global clients with the integration of video ad serving and talent & rights management to all we do today. Together we are excited for this defining moment, not only for our clients around the world but also for our teams as well.”
The transaction is expected to close in the second quarter of 2021, upon approval from Australia’s Foreign Investment Advisory Board. Upon closing of the deal, 400 Adstream employees will join Extreme Reach and three Adstream executives will take on leadership roles within the combined business: Daniel Mark, as chief strategy officer, Katie Nykanen as chief product officer and Tim Emly, as SVP Finance.
For more information on Extreme Reach, please visit here. If you’re a customer and have questions about the acquisition, reach out to your ER or Adstream point of contact.
The shareholders of Adstream were advised by JEGI CLARITY and Ashurst. Extreme Reach was advised by Kirkland & Ellis.
view more - Hires, Wins & BusinessAdstream New York, Tue, 20 Apr 2021 15:25:10 GMT