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Singtel's Digital Ad Division Amobee Snaps Up Turn for $310 million

Singtel's Digital Ad Division Amobee Snaps Up Turn for $310 million Image Credit: Amobee

Singtel subsidiary Amobee has signed an agreement to acquire Turn, a leading provider of a global technology platform for marketers and agencies, at an enterprise value of US$310 million. 

The acquisition of Turn will expand Amobee’s existing programmatic and datamanagement capabilities. Amobee claims that the acquisition of Turn will make Amobee one of the largest independent, end-to-end advertising and data management platforms in the world.

Turn offers advanced data and analytics solutions through a data management platform(DMP), allowing marketers to better understand customer interactions across adformats and devices. Turn further operates a demand-side platform (DSP) which provides programmatic buying capabilities that automate the process of buying digitalads in real time across video, mobile and display .

Singtel first acquired Amobee in 2012 and together the companies have continued to make more acquisitions including Kontera and Adconion, to expand the digital ad portfolio.

Samba Natarajan, Singtel's CEO of Group Digital Life
With marketers increasingly shifting from traditional to digital media to engage consumers, global digital ad spend is expected to exceed US$200 billion in 2017. The strategic acquisition of Turn strengthens Amobee’s technological edge in the rapidly evolving market of digital advertising and accelerates its growth into a significant global digital marketing player.

Kim Perell, CEO, Amobee
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.

Author

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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