Mediabank Merges With Donovan; Combined Company Called ‘MediaOcean’
Summary
It’s surprising that even at this late stage, when internet advertising in the U.S. is approaching $30 billion a year in spending, many of the orders for those ads are still done manually; some are still done by fax machine. In a blog post, Terence Kawaja, head of Luma Partners, the investment bank that managed the deal, offered this rationale for the merger: For years, we have been suggesting that the fragmented landscape of advertising technology intermediaries could use some rationalization. This universal OS with its open APIs will allow other companies with innovative technologies in media or data to plug in and benefit from the efficiency of a unified system. For example, supply side platform/ad optimizer Rubicon Project began working with New York-based Donovan on a platform that will serve as a direct, automated pipeline that will allow agencies to access publishers’ inventory with a few clicks-and, they hope, unlock the 90 percent of display advertising that is not transacted through real-time bidding. Speaking of which, Google is waiting for its proposed $400 million purchase of supply side platform AdMeld to get anti-trust clearance as well.
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