Omnichannel advertising tech business Mediaocean is set to acquire Innovid, an independent software platform for advertising in a deal worth approximately US$500 million.

Mediaocean has otlined plans to merge Innovid with its Flashtalking business to create a premier global, independent, omnichannel ad tech platform. The equity value of the deal is around US$525 million, with the transaction expected to close in early 2025.

The combined organisation aims to offer a range of services including ad delivery, creative personalisation, measurement, and optimisation across various channels such as digital, social, CTV, and linear TV. The merger is designed to provide advertisers with increased control over data and decisions, more choice in ad spend, and effective media investment tools and workflows.

CEO & Founder of Innovid, Zvika Netter, will lead the combined ad tech organisation as CEO, reporting to Bill Wise, Co-Founder & CEO of Mediaocean. Grant Parker, who currently runs Flashtalking, will be President of the combined ad tech organisation reporting to Netter. Netter will also join the board of Mediaocean.

"From the start, when we founded Innovid 17 years ago, we have been driven by the belief that advertising can be made better for all – and this merger represents a key milestone on that journey, and the people, teams, and passion behind it," said Netter.

Co-Founder & CEO of Mediaocean, Bill Wise, said: "Today’s advertising landscape needs independent technology companies who can provide a neutral alternative to Google and interoperate effectively across Big Tech platforms".

President of Flashtalking, Grant Parker, said: "Innovid and Flashtalking are two of the most trusted ad tech platforms providing business-critical value to advertisers around the world. We believe our solutions engage consumers in the moment and deliver highly-relevant messages. Combined, we will provide omnichannel orchestration for brands and agencies – from creative personalisation to media delivery to transparent and trusted measurement and optimization."