Tremor International to acquire Amobee from Singtel for $239 mn

 Tremor International to acquire Amobee from Singtel for $239 mn

Tremor International, a London-listed but Israeli-origin company, is set to acquire loss-making digital marketing firm Amobee from Singtel in a $239 million deal.

Tremor will finance the deal from its own accruals as well as $100 million in debt.

With the new buy, Tremor will expand its self-service video, data, and connected TV offerings and will also create new tech and partnerships.

Israeli-founded but US-based Amobee is an advertising platform that optimises outcomes for advertisers and media companies, improves consumer experiences, and optimizes cross channel performance across linear, Connected TV, and digital media.

Amobee was acquired by Singtel for $321 million in 2012. It was founded by Zohar Levkovitz, Gil Shulman, and Saul Rurka.

Singtel said it is offloading Amobee in a bid to sharpen its focus on its core businesses. In 2021, Singtel had begun a review of Amobee after the latter booked an impairment charge of the order of $425 million.

“The acquisition of Amobee is expected to build upon Tremor International’s growth strategy and proven track record of successfully integrating companies that enhance and expand the capabilities and scale of its data-driven end-to-end technology and business platform, focused on CTV and video,” said Ofer Druker, Tremor International’s CEO.

“Amobee would add several capabilities including campaign execution across linear and digital channels within a single platform. Additionally, the transaction would fulfill our strategy to add significant global scale and self-service growth to our demand side platform, increase our U.S. and international customer reach and data footprint, and drive more advertiser spend to our SSP, Unruly.”

Aman Malik

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