DoubleVerify buys analytics firm OpenSlate for £110m
DoubleVerify, a leading software platform, is set to acquire OpenSlate, a pre-campaign contextual targeting platform, for $150m (£110m) in a cash and stock transaction.
The acquisition will further expand DoubleVerify’s value to advertisers in social video and CTV, reinforcing coverage while deepening innovation, as first reported by Reuters.
This follows the company’s successful IPO launch on April 21st which saw it reach a market value of more than $5bn
OpenSlate’s solutions provide insight into the nature and quality of ad-supported content on large, video-driven social platforms, such as Facebook, TikTok and YouTube.
Founded in 2012, OpenSlate evaluates video for brand safety, suitability and context, and offers customers proven “pre-activation” controls to ensure advertisers can effectively target content.
It operates across 37 international markets and supports agency holding companies and over 200 large global brands, including Coca-Cola, Facebook, Kimberly-Clark, Pfizer, and Unilever.
Social video and CTV advertising are expected to grow to $56bn and $16bn industries respectively by 2023, and both DoubleVerify and OpenSlate emphasise the potential for growth.
“DoubleVerify’s mission is to make digital advertising stronger, safer and more secure, giving global brands clarity and confidence in their digital investments,” said Mark Zagorski, DoubleVerify chief executive.
“Our strategy in support of this mission is to verify everywhere – across channels, formats, platforms and geographies. The combination with OpenSlate fully supports this approach… No other company will be able to deliver a fully-owned, integrated solution across the leading social and CTV walled gardens.”
“The OpenSlate team is thrilled to join forces with DoubleVerify – an industry-leading, rapidly expanding, global organization with best-in-class media quality and performance capabilities,” said Mike Henry, OpenSlate chief executive.
The deal is expected to close this quarter.