Innovid, an Adtech Company, Buys TVSquared for $160 Million

The Wall Street Journal’s Megan Graham covered today’s deal:

Innovid is acquiring the ad measurement and attribution platform as Nielsen’s dominance of TV metrics wobbles, leaving the field in flux.

Innovid Corp., an advertising tech company that focuses on streaming television, is acquiring measurement and attribution platform TVSquared Ltd. in a cash and stock transaction valued at approximately $160 million, Innovid said.

Innovid, which began building its measurement capabilities more than two years ago, said the deal will help it tell marketers more about their TV advertising, whether audiences watch in traditional linear fashion or through streaming, and include data on outcomes such as car sales or app downloads after consumers viewed a commercial.

TVSquared’s strong footing in metrics for traditional TV was a major reason it was an attractive acquisition, said Zvika Netter, co-founder and chief executive at Innovid, which is based in New York.

New players are looking to capture more business in measuring television advertising as Nielsen, the dominant provider of TV ratings for decades, recently has stumbled.

The Media Rating Council, the industry’s measurement watchdog, last year yanked its accreditation of Nielsen’s national and local TV ratings. That has opened the door for new strategies: Last month, for instance, NBCUniversal said it had chosen to work with Inc., a company that aims to help advertisers verify the reach and impact of their TV and streaming ads, as it seeks to better quantify how consumers are viewing ads across different mediums.

Large brands want a unified view of their ads on conventional TV, connected TV and digital activity, Mr. Netter said.

That has become more of a priority as audiences for streaming TV have grown, particularly during the pandemic, said Jo Kinsella, president of Edinburgh, Scotland-based TVSquared.

“Through Covid, the proliferation of CTV has just made the industry wake up and say, ‘You know what, we need new cross-platform measurement currencies, and we need this to be global, and we need it to be independent’,” Ms. Kinsella said.

Innovid will keep the TVSquared brand, using it for its measurement product, which Ms. Kinsella will lead. TVSquared Chief Executive and Founder Calum Smeaton will step down as chief, but will help with the integration of the companies.

TVSquared was advised by investment bank LUMA Partners.

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