LONDON, UK: Tremor International Ltd, a global leader in video advertising technologies, has reached an agreement with News Corp to acquire Unruly, News Corp’s programmatic video marketplace.
The transaction will be satisfied through the issue of approximately 6.91 percent of Tremor International’s issued voting share capital to News Corp.
Under the terms of the Transaction, News Corp will be subject to an 18-month lockup period. Tremor has also entered into a global partnership with News Corp that will equip Tremor with the exclusive right to sell outstream video on more than 50 News Corp titles in the UK, US and Australia.
Under the terms of the Transaction, Tremor International has committed to an ad spend of £30 million with News Corp over a three-year period as part of this agreement.
Unruly is a leading global brand-safe video platform that leverages a combination of proprietary video marketplace technologies and data to deliver emotionally engaging content to consumers.
News Corp has also agreed to contribute cash towards the cost of integrating Unruly with the Company.
Furthermore, it is anticipated that Rebekah Brooks, Chief Executive Officer of News UK, will be joining the board as a non-executive director, representing News Corp, subject to the completion of the customary directorate appointment due diligence. In addition, it is anticipated that Norman Johnston, CEO of Unruly, will be joining Tremor’s board in due course, subject to the approval of Tremor’s shareholders and the completion of the customary directorate appointment due diligence.
The Transaction is directly in-line with the Company’s three-pillared strategy to grow by leveraging video, data and Connected TV.