Bill Wise, CEO, Mediaocean
Mediaocean has sold a majority stake to Vista Equity Partners as the company looks to “accelerate global growth and further drive product innovation.”
The deal will see the two companies work together to evaluate key drivers for growth, including continued investment in the convergence of TV and digital video.
While the terms of the agreement were not disclosed, the investment values Mediaocean at $720 million.
“Vista’s investment is the next great milestone for Mediaocean and presents a significant opportunity to continue to build on our success, and truly advance the marketplace forward,” said Mediaocean CEO Bill Wise.
“Our vision has always been to provide advertisers, agencies, broadcasters and publishers with a top-tier, converged advertising ecosystem. Partnering with Vista will allow us to accelerate progress in achieving this goal, while solidifying our leadership in the industry.”
Michael Donovan, executive chairman of Mediaocean, will continue as a key board member and will retain the remaining equity in the company.
“Four years ago we created Mediaocean with the goal of providing the industry with an open platform to easily integrate campaigns across all traditional and digital media,” said Donovan.
“I am truly proud of our growth and progress to date and believe that working together with Vista will allow us to continue to build on this success.”
The transaction is expected to close in the third quarter of 2015.
