London-based video tech firm Unruly has been acquired from media giant News Corp.
Israeli marketing firm Tremor International, which is listed on the London Stock Exchange, issued 6.91 per cent of its voting share capital to the American corporation to buy video advertising firm Unruly.
Unruly’s platform leverages a combination of proprietary video marketplace technologies and data to deliver emotionally engaging content to consumers. News Corp owns The Times, Wall Street Journal, Harper Collins and Dow Jones.
News Corp paid £115m for Unruly in 2015 but the firm’s value has fallen since then.
As part of the deal, Tremor has entered into a global partnership with News Corp that will equip Tremor with the exclusive right to sell outstream video on more than 50 News Corp titles in the UK, US and Australia.
Under the terms of the transaction, Tremor committed to an ad spend of £30 million with News Corp over a three-year period.
Rebekah Brooks, CEO of News UK, will join Tremor’s board as a non-executive director, representing News Corp. It is her first appointment on the board of a public company.
Brooks stepped down as an executive of Rupert Murdoch’s media empire following the phone-hacking scandal in 2011. She returned to the company four years ago.
It is anticipated that Norman Johnston, CEO of Unruly, will join Tremor’s board.
“This transaction is another important milestone in Tremor’s transformation into a leading video advertising business,” said Tremor International CEO Ofer Druker.
“We are delighted to be acquiring a truly world class asset in Unruly, but equally important is the formation of our new strategic alliance with News Corp, which will provide Tremor access to globally recognised media brands, in a partnership we believe to be mutually beneficial for both companies.
“In addition, not only does this transaction deliver a number of commercial opportunities for the Company, but it is a significant endorsement of Tremor as a business, given the reputation of News Corp globally.”
Robert Thomson, CEO of News Corp, said: “The sale of Unruly marks an important step in our strategy of simplification at News Corp, while we expect it to yield ongoing financial benefits.
“We look forward to partnering with Tremor and are grateful to Unruly and its truly talented team, who have helped our businesses in the UK, US and Australia advance their digital advertising expertise.”
Norman Johnston, CEO of Unruly, added: “Unruly will immediately benefit from Tremor’s wide range of formats, including advanced TV and In-App, as well as an analytics suite and yield optimisation tools.
“Together we’ll bring the power of emotions to video advertising to drive better results for advertisers, higher levels of engagement for consumers and more revenue for publishers.
“We are also grateful for the opportunity for Unruly to continue partnering with News Corp and its businesses around the world, with whom we have worked so closely and productively for years.
“News Corp benefits from the transaction both financially and by having found a partner to take Unruly forward and drive digital outstream revenues.”