Tinuiti to Acquire Smart TV Advertising Business Bliss Point Media
Marketing and e-commerce firm Tinuiti Inc. has agreed to acquire connected TV ad-buying store Bliss Point Media Inc., the companies said, marking the second purchase of the New Mountain Capital-backed company. over the past few months.
Bliss Point, a seven-year-old Santa Monica-based company specializing in buying digital streaming and connected TV ads, expects to generate around $ 50 million in revenue this year, a 200% increase compared to last year, said the general manager of Tinuiti. Officer Zach Morrison. After the deal closes, the combined companies will likely generate around $ 250 million in revenue this year, he said.
The companies refused to disclose the terms of the deal.
“We need to stay one step ahead of culture, capability and technology,” said Morrison, who first met Bliss Point CEO Sean Odlum by video last summer. “We still believe that consumers ‘attention is overwhelmingly focused on research, social media and markets or retail media, but the biggest place that consumers’ attention has taken is obviously OTT and smart TV. “
OTT, short for over-the-top, refers to television distributed over an Internet connection rather than broadcast or cable.
Tinuiti, which focuses on e-commerce services, digital marketing and buying ads in search and social media, will integrate Bliss Point’s connected TV capabilities and expand proprietary buying and scheduling technology from Bliss Point to other categories, Mr. Morrison said.
Companies are merging as advertisers increasingly shift their spending to connected TV and seek help making sense of a fragmented digital media and marketing industry.
“As we and our customers get bigger, the problems that we collectively try to solve become more and more complex,” said Mr. Odlum. He said adding digital expertise in areas such as research, social media and retail will allow the company to support marketers who seek help with job placement. announcements on a growing number of media channels.
Tinuiti, which in December announced an investment from New Mountain Capital that made the private equity investor its majority owner, intends to expand its business as it strives for a growing share of the digital marketing cake.
The company announced in March an agreement to acquire Ortega Group LLC, a company specializing in sales on Amazon,
and that he was adding new members to the board, including Kevin Mayer, briefly CEO of TikTok.
He is also targeting potential acquisitions in areas such as data, technology and creative capabilities, as well as companies that can help him expand his international presence, Mr. Morrison said.
“Yes, we are going to be more buyers,” he said. “We think of the industry and the destination of dollar speed.”
Write to Alexandra Bruell at [email protected]
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