Collective, a full service provider of media and technology solutions for display and video advertising, announced today that it has acquired premium online video advertising network, Web TV Enterprise. The deal, which follows only six months after the Company’s expansion into the UK and just weeks after acquiring video advertising platform Oggifinogi, furthers Collective’s position as a leader in delivering audiences to brand advertisers utilising unified in-banner and in-stream video ad formats.
Web TV Enterprise is the UK’s largest premium online video ad network, representing many of the UK’s leading web publishers and content owners. A pioneer of the VOD (video on-demand) advertising space since 2006, Web TV presents advertisers with the widest range of premium video channels on the web, reaching more than 25 million UK viewers a month.
“Collective is committed to accelerating the shift of broadcast advertising spend online,” said Joe Apprendi, CEO, Collective. “Unlike most video networks, Web TV’s revenues come largely from broadcast media budgets versus smaller digital plans. Our acquisition of Web TV will allow us to tap video’s incredible potential and further strengthen our rapidly expanding capabilities.”
In its Online Video Advertising Market Report based on a survey of UK media buyers, Web TV Enterprise revealed that more than seventy percent expected online video advertising to increase by twenty five percent over the next six months. The research also suggested digital buyers are responding to improvements in audience measurement techniques, which has long been an obstacle for many, as noted by eMarketer which reported 31 percent of UK advertisers said online video ads need better measurement.
Collective also makes available Internet Gross Rating Point (iGRP) reporting for all Collective video, rich media and display campaigns, making the integration a natural extension of Collective’s product suite as the company continues to align its business with meeting brand advertising objectives.
“The promise of online video advertising lies in its ability to allow brand advertisers to engage with their audiences within the most appropriate content environments, where the most impact and opportunity exist,” said Jamie Estrin, Managing Director, Web TV Enterprise. “Collective’s success in combining data, targeting and analytics with the most engaging advertising format available makes this a natural fit for us. Our combined efforts will drive the advancement of online video advertising.”
The deal closed at an undisclosed amount.
“We are extremely happy with the advice and transaction process delivered by the team at Regent Partners, led by Dolf Campman. We appointed Regent because of their experience and reputation within the online advertising community. Regent demonstrated their excellent knowledge of the advertising industry by their ability to understand and communicate effectively what is unique about our business. Armed with this insight, they managed a solid process of identifying and approaching relevant parties. The process resulted in a strong shortlist from which Collective emerged as the all-round most attractive strategic option, with excellent career opportunities for existing Web TV management. Regent delivered an excellent result for the shareholders, management and the company as a whole. They were totally committed and contributed key negotiation and valuation support. This was crucial in guiding us through the complex range of issues that arose. I can recommend the Regent team highly.” Jamie Estrin, Managing Director, Web TV Enterprise Ltd.
Regent Partners LLP acted as exclusive Corporate Finance advisor to Web TV.