Verve acquires mobile advertising company Jun Group for $185 million

Mobile ad tech holding company Verve has acquired Jun Group, a mobile video and gaming ad business, for $185 million. 

Jun Group’s mobile-first demand-side platform, which provides direct access to over 230 Fortune 500 advertisers and agencies across the United States, aligns perfectly with Verve’s US-centric mobile supply-side platform. 

The acquisition aims to create a more balanced sales model, distributing the business focus with 30% on the demand side and 70% on the supply side. According to Verve, this strategic fit will enhance the combined company’s market reach and scale, projecting pro forma revenues of approximately €447 million and an EBITDA of €151 million in 2024.

Jun Group was co-founded in 2005 by Mitchell Reichgut, Corey Weiner, and Bill Common, headquartered in New York City. It was acquired by retail marketing powerhouse Advantage Solutions. 

Verve has historically excelled with its mobile SDK network and advanced ad tech stack. The company acquired mobile SSP Smaato for $170 million in July 2021. In addition to enhancing its supply-side operations, the company has been focused on growing its demand-side presence. The acquisition of the mobile demand-side platform (DSP) Dataseat in 2022 was a significant step in this direction.

“Over the past few years, we have built Verve into a strong, organically growing media company with a primary focus on the advertising supply side. With Jun Group, we are now significantly strengthening the demand side, which will enable us to achieve significant synergies. With a better balance between supply and demand, we can further increase transparency and efficiency for our clients, both publishers and advertisers, in line with our mission “Let’s Make Media Better”. In summary, this acquisition takes Verve to the next level, both operationally and in terms of growth and profitability, while reducing leverage,” said Remco Westermann, CEO of Verve.

With the acquisition, Verve’s first half 2024 is expected to see a significant increase in revenue to €380-400 million and adjusted EBITDA to €115-125 million in 2024 forecast.

Written by Sophie Blake


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