Singtel subsidiary Amobee, a global digital marketing tech firm, has signed an agreement to acquire Turn, provider of a global technology platform for marketers and agencies.
Amobee serves a variety of clients, including brands such as Airbnb, Dell EMC, and Lexus.
“Turn offers advanced data and analytics solutions through a data management platform (DMP), allowing marketers to better understand customer interactions across ad formats and devices,” according to the official word on the acquisition. “Turn further operates a demand-side platform (DSP) which provides programmatic buying capabilities that automate the process of buying digital ads in real time across video, mobile, and display for major brands including KraftHeinz, Toyota, and L’Oréal USA.”
The acquisition of Turn will expand Amobee’s existing programmatic and data management capabilities. The unified platform will make it possible for leading brands and agencies to plan and buy media for specific audiences in a more integrated way — and to maximize investments across desktop, mobile, video, and social media.
“With marketers increasingly shifting from traditional to digital media to engage consumers, global digital ad spend is expected to exceed U.S. $200 billion in 2017,” said Samba Natarajan, Singtel’s CEO of Group Digital Life. “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.”
The acquisition will also allow for Amobee to expand beyond the U.S. and into the Asia Pacific, where the Singtel Group reaches some 640 million customers across 22 countries.
Of course, this acquisition is subject to regulatory approvals and fulfillment of closing conditions; it should be completed in the first half of 2017.