Mediaocean to Sell Majority Stake to Vista Equity Partners
Mediaocean, a company that creates software for advertising automation, announced today that it is selling a majority stake to Vista Equity Partners. Vista is a private equity firm, and it specializes in software, data, and technology-enabled businesses. While the terms were not disclosed, the Wall Street Journal reports that the deal values Mediaocean at roughly $720 million.
The transaction will close in Q3 of 2015. Michael Donovan, Mediaocean's executive chairman, will retain the company's remaining equity. He will also stay on the company's board.
Under the new ownership structure, Mediaocean and Vista will work together to grow the company. One key area will be the investing in Mediaocean's existing products for the convergence of TV and online video advertising.
Mediaocean's cross-media software platform is used by over 80,000 people in advertising, broadcasting, and publishing, letting them connect online and traditional advertising workflows. The automated platform connects ad-tech, data solutions, and supply partners, managing over $100 billion in global ad spending every year.
“Four years ago we created Mediaocean with the goal of providing the industry with an open platform to easily integrate campaigns across all traditional and digital media," Donovan said. "I am truly proud of our growth and progress to date and believe that working together with Vista will allow us to continue to build on this success."
With the goal of simplifying the video ad-buying process, Mediaocean and SpotX announced a partnership today.