Tremor Media, an online video monetization and advertising company, has acquired in-stream video ad network ScanScout. Financial terms of the deal were not disclosed.
Tremor Media will discontinue the ScanScount brand. Jason Glickman, CEO and founder of Tremor Media, will become executive chairman of the merged company. Bill Day, CEO of ScanScout, will become Tremor Media’s CEO.
“This is a critical moment in the digital video space. We’re going to see huge growth as the landscape shifts, viewers spend more time with online video and the interest from offline video marketers follows those consumers,” said Glickman. “The market is going to explode and we want to build the company to be a dominant player.”
Day said the deal’s goal is to provide all advertisers with performance-based metrics.
“[We want to] take a more performance-oriented approach,” he said. “It’s an opportunity we see over time.”
The deal has not yet resulted in any client conflicts. Fewer than 10 layoffs have occurred so far as a result of the acquisition, according to a company spokesperson.
Glickman noted that the two businesses operate in the same industry space, but are complementary to each other, so there will be very little overlap.
“It’s not a defensive acquisition; it’s very much an offensive acquisition,” he said.