#Asia Singtel’s digital ad subsidiary Amobee acquires US-based adtech firm Turn for US$310M

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The acquisition of Turn will boost Amobee’s existing programmatic and data management capabilities

Amobee, the digital marketing subsidiary of Singtel, has announced the acquisition of US-based marketing analytics firm Turn for US$310 million.

The acquisition will boast Amobee’s programmatic advertising, media buying and data management capabilities across all formats.

“This acquisition makes Amobee one of the largest independent buy-side marketing technology providers globally, boosts our data analytics capabilities and understanding of consumers, and provides a strong foundation for our future growth,” said Amobee’s CEO, Kim Perell, in an official press release.

Turn’s data management platforms provides advanced analytics to help marketers to better understand customer interactions across different advertisement formats and platforms. It also offers programmatic buying capabilities to enable the purchase of digital ads in real time in all mediums.

Amobee, which Singtel acquired for US$321 million in 2012, also provides customer behaviour insights, helping marketers to build better targetted ad campaigns. Its ads API is integrated with popular social media platforms such as Facebook, Instagram, Snap, Twitter and Pinterest.

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“The strategic acquisition of Turn strengthens Amobee’s technological edge in the rapidly evolving market of digital advertising and accelerates its growth into a significant global digital marketing player. It will also prime Amobee for expansion beyond the US and into the Asia Pacific, where the Singtel Group reaches some 640 million customers across 22 countries,” said Samba Natarajan, Singtel’s CEO of Group Digital Life.

The deal is expected to be finalised by the first half of 2017, subjected to regulatory approvals and fulfilment of closing conditions.

Amobee has made a string of acquisitions over the years. In 2012, it acquired 3D advertising tech firm Adjitsu for an undisclosed sum; the following year, it bought Gradient X, a real-time bidding platform Gradient X, financial details were also not revealed; and in 2014, Amobee bought two adtech startups Adconion and Kontera for US$235 million and US$150 million respectively.

 

 

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