SINGAPORE and FOSTER CITY, CA — Amobee, a subsidiary of Singapore telecom company Singtel, has agreed to buy Turn for $310 million. Turn is a digital marketing company based in Foster City serving brands such as Airbnb, Dell EMC and Lexus.
Turn offers advanced data and analytics solutions through a data management platform (DMP), allowing marketers to better understand customer interactions across ad formats and devices. Turn also operates a demand-side platform (DSP) which provides programmatic buying capabilities that automate the process of buying digital ads in real time across video, mobile and display for major brands including KraftHeinz, Toyota and L’Oréal USA.
The acquisition of Turn will expand Amobee’s existing programmatic and data management capabilities. Amobee will be able to offer marketers an independent end-to-end advertising and data management platform across all channels, formats and devices, access to proprietary Amobee Brand Intelligence insights as well as advanced analytics and media planning capabilities. With this unified platform, leading brands and agencies can plan and buy media for specific audiences in a more integrated way to maximize their investments across desktop, mobile, video and social media.
Amobee’s CEO, Kim Perell, said, “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. Effectively powering advertisers’ digital marketing is about enabling them to better understand and reach their customers, and enhance the way they engage them, on a global scale. To differentiate and capitalize on the growing market opportunity, we will offer world-class technology paired with advanced data and insights.”
Bruce Falck, CEO of Turn, said, “Turn’s vision is to help marketers understand what works, what doesn’t, and why, by providing a powerful insights, analytics and programmatic buying platform. Today is a significant moment for us and a recognition of the quality of our technology platform. As a part of Amobee, we will be able to enhance the value delivered to our customers and partners on a global scale and accelerate innovation in this space.”
The deal is expected to close in the first half of 2017.