Madhive acquires omnichannel marketing platform Frequence

Madhive, a technology company specializing in local CTV advertising, has announced a definitive agreement to acquire Frequence, a provider of omnichannel ad sales enablement and workflow software for local media companies and agencies. The acquisition merges two forces in local digital advertising, creating a comprehensive platform for national, regional, and local advertisers to deliver precise, geo-targeted messages across various channels, including streaming TV, search, online video, display, audio, out-of-home, and social media.

Terms of the deal were not disclosed.

Madhive is renowned for its outcome-driven local CTV and premium digital video solutions, powered by proprietary data and platform capabilities. It supports hundreds of millions in media spending for major media entities such as Fox, Tegna, Scripps, Katz, and agencies like Lifebrands. Its robust CTV platform includes an in-house bidder, device graph, and real-time optimization engine, managing over 20,000 daily campaigns across 210 designated market areas (DMAs).

Spencer Potts, CEO of Madhive, remarked, “Madhive has always focused on empowering local media markets by building best-in-class technology to power local digital campaigns at every scale – from national reach to zip code precision. Frequence built a complementary platform that focuses on streamlining the planning and execution of local campaigns across channels. This acquisition combines two like-minded companies, marking the next step in Madhive’s journey to become the digital hub for the entire small and medium business (SMB) market. While CTV will always be at our core, our vision is to provide best-in-class omnichannel solutions that deliver results across the entire sales funnel.”

Frequence, on the other hand, provides workflow software and media services that empower local media companies like Spectrum Reach, Hearst, and Beasley to sell, manage, and execute omnichannel digital marketing campaigns. Its end-to-end, highly configurable solution integrates with owned and operated media, automating key ad operations and workflows to drive sales efficiency and revenue growth for its clients.

Tom Cheli, CEO of Frequence, added, “We are thrilled to announce that Frequence has been acquired by Madhive, marking an exciting milestone in our journey. With this acquisition, we envision transformative opportunities for our customers and their advertisers. Over the past fourteen years, Frequence developed the leading omnichannel advertising sales platform through relentless innovation and the integration of cutting-edge technology. Now, together with Madhive, we are surging forward by uniting our unique strengths to establish the leading digital advertising hub for local media companies.”

The acquisition follows Madhive’s recent $300 million investment from Goldman Sachs Alternatives, aimed at fueling growth and expansion into new channels beyond the local CTV space. Moelis & Company LLC acted as the exclusive financial advisor to Frequence, while Wilson Sonsini Goodrich Rosati provided legal counsel. Latham & Watkins served as legal counsel to Madhive.

With the addition of Frequence’s approximately 350 employees, Madhive’s workforce will expand to nearly 600.