[ad_1]
Acquisition Strengthens Outbrain’s Video Offering for Media Owners and Advertisers;
Combines contextual content and in-stream video advertising for desktop, mobile and CTV
NEW YORK, Nov 22, 2021 (GLOBE NEWSWIRE) – Outbrain Inc. (Nasdaq: OB), a leading recommendation platform for the open web, announced today that it has entered into a definitive agreement to acquire Video Intelligence AG (“vi“, A Switzerland-based platform for contextual video technology for owners of digital and networked TV media.
Vi ‘s contextual and machine learning technology enables media owners to improve user engagement and monetization by adding relevant video content to articles. In addition, it offers advertisers an effective, highly visible, brand-safe video ad inventory that drives awareness and user engagement. Vi’s solution works with more than 1100 media owners around the world, from IDG to Der Spiegel and Funke. Additionally, vi recently entered the CTV space with a unique contextual offering in partnership with several premium providers including Samsung TV +. In 2021, digiday named vi as the best video platform.
“Vi fits in perfectly with Outbrain’s core strategy of bringing technology to media owners to drive user engagement and monetization through relevant content and ads,” said David Kostman, Co-CEO of Outbrain. “The combination with vi will allow us to deepen our partnership with media owners and offer video solutions for the middle and beginning of the article. It will also expand our addressable market and introduce high quality in-stream video inventory in support of our brand advertisers. We see significant synergies between our companies and are very excited to welcome the incredibly talented and experienced vi team to Outbrain, â€added Yaron Galai, Co-Founder and Co-CEO.
“We are excited to join Outbrain and become a central part of the development of the leading video engagement platform,” said Kai Henniges, co-founder and CEO of vi. “Our years of video expertise and our unique offering for publishers and CTV providers are a perfect complement to Outbrain’s leading market position and first-class global media owner partnerships. Together we will accelerate our mission to inspire, inform and entertain users by putting videos in context. We believe we have found a great match between the cultures of our companies and share the same vision of the future of media. “
Outbrain will acquire vi for a total purchase price of approximately $ 55 million, funded by $ 46.75 million in balance sheet cash and 412,500 shares of Outbrain. The transaction is expected to close in the first quarter of 2022 and is expected to add value in the first year. Progress Partners acted as exclusive M&A financial advisor to vi.
Forward-Looking Statements
This press release contains forward-looking statements, including statements about the proposed transaction with video Intelligence AG, its timing and our ability to achieve the intended operational, financial and strategic benefits from such a transaction. These statements are not historical facts but are based on the company’s current expectations and projections for its business, operations and other related factors. Words like “may”, “will”, “could”, “would”, “should”, “foresee”, “predict”, “potentially”, “continue”, “expect”, “intend”, “plan”, “Projects,” “believes,” “estimates” and similar expressions are used to identify these forward-looking statements. These statements constitute predictions only and, as such, are not guarantees of future performance and involve risks, uncertainties, and assumptions that weigh heavy predictions, including, but not limited to, changes in domestic and foreign business, market, financial, political and legal conditions; the company’s inability to complete the planned transaction with video Intelligence AG successfully or on time; related risks the uncertainty of the forecast financial information with regard to video Intelligence AG; risks in connection with the timing and achievement of expected business milestones; the risk that the planned transaction disrupts the current plans and operations of the company and video Intelligence AG as a result of the announcement and completion of the planned transaction; the ability to recognize the anticipated benefits of the proposed transaction which may be influenced by competition, among other things, the ability of the combined company to grow and manage growth profitably, to maintain relationships with customers and to increase its management and key employees keep; and risks in connection with the intellectual property portfolio of video Intelligence AG. Actual results could differ materially from the forward-looking statements due to a number of factors. There may be additional risks that are not currently known to the company or that the company currently considers to be immaterial and which could also mean that the actual results differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the company’s expectations, plans or projections of future events and beliefs only as of the date of this press release. All forward-looking statements in this release are based on information available to the company as of the date of this release, and the company assumes no obligation to update the forward-looking statements provided to reflect events or circumstances that occur or occur after that date which they were created, unless required by law.
About Outbrain
Outbrain (Nasdaq: OB) is a leading recommendation platform for the open web. Our technology enables 10 billion recommendations to consumers every day in more than 7,000 online offers and connects advertisers with these target groups in order to grow their business. Outbrain was founded in 2006 and is headquartered in New York with offices in 18 cities worldwide.
About vi
vi is a contextual video platform. vi connect publishers, content creators and brands through video storytelling. vi uses AI and automation to bring context to videos in order to understand them and bring them close to other relevant content.
Context is everything.
www.vi.ai
Media contact:
Katie Tankersley
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/72424fe3-a99d-499f-bf69-a5f7751be90c
[ad_2]
