Double Verify (DV), a leading software platform for digital media measurement, data, and analytics, acquired Meetrics, headquartered in Berlin. The deal will help DV to expand its presence in EMEA after going public in early 2021. Financial terms of the all-cash-transaction are not disclosed but it is expected to close in the third quarter of 2021.
Meetrics was founded in 2008 and has since raised $.1.3 million, as per Crunchbase. It provides ad verification solutions in Europe, Middle East, and Africa (EMEA). The ad tech company has measurement partnerships with the wall gardens of Google and Facebook. The European footprint clientele includes media houses like ITV and Le Monde, publisher Marie Claire was the main attraction for Double Verify to bolster its international growth. Other clients are GM, Carrefour, and L’Oréal.
Another distinctive point that proved lucrative is – Meetrics is the first European company to get Media Rating Council accreditation for in-app viewability measurement for video and display. In 2017, it also received MRC accreditation.
Meetrics’s acquisition marks Double Verify’s first transaction after the multi-billion dollar IPO, which is the biggest in adtech in recent times vaulting the company at more than $5billion. This is the company’s first step towards global expansion and will be eyeing more M&A opportunities to accelerate growth globally.
As reported by Adexchanger, Double Verify CEO Mark Zagorski stated,
“We’re obviously using some of the proceeds of the IPO to drive growth. This is why we did that, so we can more rapidly scale in markets around the world and not have to wait to hire additional resources or build client relationships – we can actually go in and accelerate that using capital.”
M & A In Ad Tech Is Growing
There is a swarm of M&As in ad tech that includes a notable example of Integral Ad Science’s recent acquisition of sell-side CTV ad server and analytics company Publica for $220 million. This shows ad tech companies are more interested in M&A space to pursue inorganic growth now that they are under the eye of the public markets.
Meetrics has more than 80 customers across 23 countries in Europe. This acquisition gives Double Verify a competitive edge. Mark Zagorski explains,
DV’s mission is to make digital advertising stronger, safer and more secure, giving global brands clarity and confidence in their digital investments,
Our strategy in support of this mission is to verify everywhere – across channels, formats, platforms and geographies. The Meetrics transaction fully supports this approach and bolsters our operating footprint in EMEA, adding experienced sales, product, and engineering teams and tenured customer relationships that will continue to help accelerate the growth of our international business
The Meetrics’ sales, product, and engineering teams will continue to operate from offices in EMEA, fortifying and expanding DV commercial operations in the region. Dr. Philipp von Hilgers, Co-founder and Managing Director of Meetrics said,
Integrating Meetrics’ technology and expertise with DV’s global platform will accelerate our efforts to power media quality and performance for leading brands in the region. Through integration with DoubleVerify, we anticipate scaling our solution to better service our customers, while driving even greater positive impact throughout the ecosystem
As reported by Adexchanger, Meetrics will retain its name for a period until 2022 and will operate under DV’s umbrella.
A Potential Deal In Making
The Meetrics acquisition will aid Double Verify to set its footprint in the EMEA region and boosts its business in India as well. Additionally, it can capitalize on Meetrics’ well-built customer relations in the Eastern European market.
Meetrics clientele will also have complete access to Double Verify’s broad product suite and solutions such as contextual targeting. As stated to AdEschanger, DV’s three areas of focus within its M&A strategy: global expansion, bolstering its existing product and technology suite and adding new products, such as new measurement and analytics solutions.
Meetrics technology accessibility will also help Double Verify to drive ad performance apart from verification.