Tremor International makes strategic investment in VIDAATuesday, June 21st, 2022
Tremor International Enhances Partnership with VIDAA through Strategic Investment
- Investment expands global data and media agreements for multiple years, and provides advertisers leveraging the Tremor International platform with access to exclusive, premium content
- Partnership between a leading tech platform, OEM and OS is rare in the CTV landscape
NEW YORK — Tremor International Ltd. (AIM/NASDAQ: TRMR) (“Tremor” or the “Company”), a global leader in video, data, and Connected TV (“CTV”) advertising, offering an end-to-end technology platform that enables advertisers to optimize their campaigns and media partners to maximize yield on their digital advertising inventory, today announced that it has entered into a definitive agreement to make a strategic $25 million investment in VIDAA (the “Investment”), a smart TV operating system and streaming platform, and a subsidiary of Hisense Co., Ltd (“Hisense”), preinstalled on a majority of TVs manufactured by Hisense including TVs with the Toshiba brand, and also integrated into dozens of premium original equipment manufacturers (“OEMs”). The Investment is expected to close in the third quarter of 2022, subject to the satisfaction of customary closing conditions. Tremor intends to fund the investment utilizing existing cash resources.
We believe the Investment can support VIDAA’s plan to increase its distribution across additional OEMs, with the goal to grow global reach in key markets such as the US, UK, Canada, Germany, Japan, and Australia, as well as others. This effort complements the 70 million smart TVs Hisense and other OEMs have forecasted to distribute globally in the next five years.
The Investment accompanies an expansion of the valuable partnership between a leading ad tech platform and a leading operating system and streaming platform to collectively offer a better advertising experience across CTV. Over time, VIDAA will grant exclusivity in the US, UK, Canada, and Australia to the Unruly SSP and Spearad ad server, already designated as its preferred monetization platform globally, and the companies have extended, for multiple years, the exclusive agreement to share VIDAA’s automatic content recognition (“ACR”) data for global measurement and targeting across Tremor’s end-to-end platform.
Hisense’s Chairman Dr. Lan Lin commented: “To execute our vision to create and promote VIDAA, a leading smart TV operating system and streaming platform in the growing Connected TV ecosystem, we needed a complementary partner who will enable monetization, while providing added value to VIDAA’s OEM partners. After reviewing the options in the market, we chose to build a partnership with Tremor International as we strongly believe that its technology stack and global reach can offer the best solution to enable our vision and support our expansion.”
Guy Edri, President, VIDAA said: “In Tremor International, we have a team stacked with CTV experts and a global solution that empowers us to get the most out of our strategy. Now we are looking to the future of our business and believe that Tremor International, and its subsidiaries – the Unruly SSP and Spearad ad server – can provide the strength and versatility we need for our evolution as a leading CTV operating system and streaming platform in the era of the connected TV.”
Ofer Druker, CEO, Tremor International said: “Our strategic partnership and mutual vision with VIDAA is rare in the ad tech marketplace, and we believe it provides Tremor with cutting-edge capabilities in the CTV ecosystem. As we noted at the outset of the partnership in October 2021, VIDAA’s assets enable us to better assist advertisers in reaching desired audiences and measuring the success of their campaigns through ACR data, now coupled with exclusive monetization of VIDAA’s premium content library and massive media platform in the US and globally. We are very proud of the strength and depth of our relationship, and of the trust they have placed in our platform and team as part of the foundation of their global growth.”