24/7 Market News Snapshot 21 November, 2024 – Innovid Corp. (NYSE:CTV)

November 21, 2024

DENVER, Colo., 21 November, 2024 (247marketnews.com) – (NYSE:CTV) are discussed in this article.
Innovid Corp. has captured significant attention in recent trading sessions, with shares experiencing an impressive surge in pre-market activity, rising to $3.009, a remarkable 85.74% increase from the last close of $1.620. This notable jump is complemented by substantial trading volume, exceeding 6.50 million shares, reflecting heightened investor interest and confidence in the company’s innovative advertising technologies.

Adding to this positive momentum, Innovid is set to undergo a transformative change with its acquisition by Mediaocean, an established player in the advertising technology sphere. The deal, valued at approximately $500 million, will see Mediaocean acquire Innovid for $3.15 per share, culminating in a total equity valuation around $525 million. This acquisition, which also includes a merger with Flashtalking, aims to forge a premier independent omnichannel ad tech platform, enhancing service offerings to navigate the evolving advertising landscape.

The completion of this transaction is anticipated by early 2025, positioning Innovid to leverage its strengths alongside Flashtalking’s capabilities in ad delivery, creative personalization, and performance measurement across diverse channels, including connected TV (CTV) and linear TV. This partnership comes at a pivotal moment, as brands increasingly seek alternatives to ad technology models dominated by media sellers, which often restrict data accessibility and control over media expenditures.

Leadership for the integrated entity will feature Innovid’s CEO and Founder, Zvika Netter, alongside Grant Parker, President of Flashtalking, indicating a commitment to innovation and a strategic vision in a rapidly transforming sector. The union of Innovid’s technological prowess and Mediaocean’s vast resources is expected to redefine the advertising technology ecosystem, equipping brands, agencies, and publishers with enhanced control over their advertising strategies, thereby optimizing efficiency and effectiveness in media execution.

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