Tremor closes $25m investment in Hisense's Vidaa platform
Connected television advertising technology company Tremor International announced the closing of its $25m equity investment in Vidaa on Thursday, satisfied through existing cash resources.
The AIM-traded firm described Vidaa as a smart television operating system and streaming platform, and a subsidiary of Chinese manufacturer of television sets, Hisense.
In connection with the investment, Tremor said it had also extended, for “multiple years”, its exclusive agreement to share Vidaa’s automatic content recognition data for global measurement and targeting across its end-to-end platform.
Vidaa also granted exclusivity in the US, UK, Canada, and Australia to the ‘Unruly SSP’ and ‘Spearad’ ad server, which was already designated as its preferred monetisation platform globally.
“Vidaa is expected to use the Investment to support its plan to increase its distribution across additional original equipment manufacturers, with the goal to grow global reach in key markets such as the US, UK, Canada, Germany, Japan, and Australia, as well as others,” the Tremor board said in its statement.
At 1124 BST, shares in Tremor International were down 5.09% at 324.6p.
Reporting by Josh White at Sharecast.com.