Adobe is to acquire video platform TubeMogul in a $540m deal, as part of plans to offer marketers a “one-stop shop” for video advertising.
TubeMogul’s video ad planning and buying tools will be integrating into Adobe Marketing Cloud solution. Adobe claims the acquisition will allow it to create the first “end-to-end independent advertising and data management solution” spanning TV and digital formats.
The ad tech firm’s chief executive Brett Wilson will continue to lead the TubeMogul team as part of Adobe’s Digital Marketing business. The transaction is expected to close during the first quarter of Adobe’s 2017 fiscal year.
Both businesses share a number of clients, including Johnson & Johnson, Kraft, Liberty Mutual and L’Oréal.
“Whether it’s episodic TV, indie films or Hollywood blockbusters, video consumption is exploding across every device and brands are following those eyeballs,” said Brad Rencher, executive vice president and general manager, digital marketing at Adobe.
“With the acquisition of TubeMogul, Adobe will give customers a ‘one-stop shop’ for video advertising, providing even more strategic value for our Adobe Marketing Cloud customers.”
Wilson added: “Adobe and TubeMogul share a similar culture and vision for the future of advertising. The combination of Adobe Marketing Cloud with TubeMogul’s software creates a uniquely comprehensive platform that will help marketers always know what’s working – and act on it.
“We’re thrilled to call Adobe home and believe this will be a great move for our clients, team and shareholders.”