Maya Robertson
DoubleVerify announced on Monday that it has entered into an agreement to acquire Paris-based AI company Scibids. The acquisition is a $125 million cash and equity deal with the possibility of additional consideration depending on specific performance measures.
As part of the deal, which is expected to close by the end of Q3, DoubleVerify will pay approximately $66 million of the purchase price with cash on hand and the rest amount using company common stock.
Founded in Paris in 2016, Scibids provides an AI-powered digital campaign optimization platform that automates and optimizes advertiser’s programmatic buying of digital ad campaigns. Its AI dynamically produces custom bidding algorithms for clients matched with the advertiser’s KPIs and intended outcomes by utilizing DSP impression level data streams (including price), first party data, and measurement data provided by the brands or their agencies.
With the acquisition, DoubleVerify aims to expand its product leadership in real-time campaign optimizations and combine its media quality and performance data that includes viewability, contextual and attention signals.
“The acquisition of Scibids is a decisive step in our journey to power superior campaign outcomes that started with developing and delivering the industry standard in media quality insights and has evolved into putting that data to work for advertisers,” said Mark Zagorski, DoubleVerify CEO. “The combination marries DV’s proprietary data with Scibids’ AI-powered optimization technology, letting us empower brands with unparalleled insights and control over their advertising performance.”
DoubleVerify, which went public on April 21, 2021, The company, which analysis around 300 billion data transactions daily, reported a revenue of $133.7 million for the second quarter, up 22% year-over-year.
“DoubleVerify is a company that shares our commitment to independence, innovation and maximizing media performance, and we’re thrilled to take our partnership to the next level,” said Remi Lemonnier, CEO & Co-Founder of Scibids. “This partnership will amplify the capabilities of our customizable AI technology and expand its impact across the digital advertising ecosystem to strengthen the open web. We look forward to working with the entire DV team to deliver new opportunities and maximize campaign outcomes for our global advertisers and partners.”
Scibids was advised by LUMA Partners.
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