Maya Robertson
TEGNA announced that its CTV/OTT advertising platform Premion has signed an agreement to acquire Octillion Media, a demand-side platform (DSP) focused on Local CTV/OTT advertising.
Financial terms of the deal were not disclosed.
The acquisition aims to enhance Premion’s presence in the burgeoning CTV marketplace by merging Octillion’s technology with Premion’s local CTV/OTT advertising solution.
“Octillion is precisely the type of smart bolt-on acquisition we have long considered to accelerate our already successful organically grown Premion business,” said Dave Lougee, president and CEO, TEGNA.
Founded in 2019, Octillion Media has crafted a technology platform specifically tailored for local CTV and OTT advertising. Recognized as the second-fastest-growing private media company in the United States on Inc.’s 5000 list in 2022, Octillion has demonstrated remarkable expansion through its commitment to delivering inventive CTV/OTT solutions, prioritizing advertiser outcomes and transparency. In a milestone achievement for 2023, Octillion became the inaugural local OTT platform to attain the TAG Certified for Transparency Seal.
“With our shared belief that transparency, quality, and brand safety are the key pillars of success for local CTV advertisers, bringing Octillion together with Premion is a natural fit,” said Gabe Greenberg, CEO and co-founder of Octillion. “We’re excited to continue to build and develop our innovative CTV/OTT product offering and activate the platform’s capabilities backed up by quantified business outcomes across Premion’s network of sellers and clients.”
Introduced in 2016 under the umbrella of TEGNA Inc., Premion stands as a forefront premium advertising platform for CTV and OTT services, catering specifically to regional and local advertisers. In 2020, Gray Television, Inc. secured a minority stake in Premion. Boasting a direct inventory source from over 125 premium publishers, Premion is dedicated to providing transparency and ensuring brand safety. This approach simplifies the process for advertisers, facilitating precise targeting to effectively reach and engage audiences on a large scale.
In the course of the deal, Gabe Greenberg, along with Octillion’s staff situated in both the United States and internationally, will become integral members of the Premion team.
Comments
Loading…