DDS to merge with MediaBank
Donovan Data Systems (DDS) is set to merge with its main US competitor MediaBank, according to the Wall Street Journal.
The two media technology companies will create a new company called MediaOcean. The current chief executive of MediaBank, Bill Wise, who is expected to become CEO of MediaOcean, said: “Why fight each other when there is a much bigger battle to fight.”
DDS and MediaBank are thought to be valued at $500 million. The board for the new company will be made up of three directors from DDS and three from MediaBank. J.T.Batson, president of DDS Digital, will take on a the role of president of MediaOcean.
The two companies are expected to invest “tens of millions of dollars to create new ad technologies and acquire businesses that expand the company’s global capabilities”, the Wall Street Journal said.
MediaOcean will process $150 billion in global ad spend annually.
Read the full WSJ article here (subscription only).
Click here to view MediaOcean’s promo video.
In the video, Media Ocean says that rather than fear it or ignore it, “we need to grab that (media) disruption by the horns”.
“Media Ocean will create a universal, open, global and neutral operating system, so any advertising business can use any advertising technology and easily orchestrate between them.”