Marketing firm Tremor International Ltd said on January 6 that it has agreed to buy video advertising firm Unruly from News Corp, looking to bolster video services by tapping into the Rupert Murdoch-owned firm’s vast network of clients.
The London-listed firm said as part of the deal, it would issue about 6.91% of its voting share capital to News Corp, the owner of the Wall Street Journal and The Times.
News Corp will be subject to a lock-up period of 18 months and both parties have agreed to spending 30 million pounds ($39.25 million) in ads over three years.
Unruly, founded in 2006 and based in London, has over 1.2 billion unique monthly views on its ads. It also has a data analytics unit that studies trends focused on advertisements’ emotional impact.
Excluding deal costs, Israel-based Tremor expects Unruly to break even this financial year.
News Corp bought Unruly in 2015 for 58 million pounds in cash.
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