New York-based mobile and digital advertising company Kargo announced that it has acquired cloud-based video technology SaaS company Ziggeo in order to expand its video offerings.
The deal marks Kargo’s fourth acquisition over the last two years. The company acquired ad-tech firm Rhombus in August 2020, e-commerce advertising company StitcherAds for reportedly $64 million in October 2021 and mobile advertising company Parsec in April this year.
While the company didn’t disclose the financial terms of its latest acquisition, Kargo’s founder and chief executive officer Harry Kargman told AdWeek that the cost of its four acquisitions was 75 million in cash and equity in upfront costs.
“With Ziggeo, we can level-up video advertising with unique, disruptive and industry changing video formats and capabilities that meet consumers where they are and drive impactful experiences,” Kargman said in a statement.
Founded in 2013 by Oliver Friedmann and Susan Danziger, Ziggeo offers asynchronous video APIs as well as mobile SDKs and tools. Its customers include Netflix, Spotify, GoFundMe, SAP, Virgin Media and many others. Following the acquisition, its solutions will be integrated into Kargo’s omnichannel platform.
”The Ziggeo team is thrilled to join Kargo, a company that shares our vision to deliver innovative and breakthrough experiences for our customers that grab attention,” said Ziggeo’s founder and chief technology officer Oliver Friedmann. ”Together, we plan to launch new video products that will benefit from our combination of video player, video recording technology and sophisticated transcoding pipeline, which will be integrated into Kargo’s new and existing publisher partners and clients”, he added.