DG Gets Big Global Footprint With MediaMind Acquisition
ADOTAS — TV-advertiser-gone-digital DG (DG FastChannel to its friends) acquired MediaMind for $414 million in an all-cash transaction, including an agreement to purchase outstanding shares of the publicly traded ad platform for $22 a pop. MediaMind CEO Gal Trifon has been named DG’s Chief Digital Officer and Chief Solutions Officer Ofer Zadikario is taking that same position in the merged entity.
While MediaMind will expand DG’s digital campaign capabilities, it was already delivering its 5,000 advertisers cross-channel traditional and digital campaigns to 28,000 radio, television, print and online destinations. Its digital efforts include subsidiaries Unicast (which also builds rich media display campaigns), “creative information resource” SourceEcreative, branded video content maker Treehouse and interactive agency Springbox.
However, MediaMind does offer DC an impressive global footprint. According to the press release, last year MediaMind delivered campaigns for 9,000 brands through approximately 3,800 media and creative agencies across 8,200 global web publishers in 64 countries. [catches breath] MediaMind boasts 37 sales and representationSeventy-two percent of MediaMind’s business is booked outside the U.S.
“We are extremely pleased about this transaction, which greatly accelerates our international and digital growth strategy,” agreed DG President and COO Neil Nguyen. “With this acquisition, we will build on MediaMind’s global operational footprint and world class technology platform to expand our reach beyond North America. The combined companies will serve a global customer base and enable DG to penetrate such markets as Latin America, Asia and EMEA.”
In spring of 2010, MediaMind switched its name from EyeBlaster, reflecting the company’s growth beyond serving rich media ads, before filing for an IPO that famously disappointed, with $11.50 a share falling way short of expectations of $14-$16
Reader Comments.
This is a good example of an acquisition of a category leader in order to get into a new market. More thoughts about this at http://www.yanivnizan.com/2011/06/thoughts-on-mediamind-acquisition.html
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