The acquisition of Scottish technology company TVSquared by Innovid has been finalised.

The deal will see the New York-based company purchase TVSquared for $100 million in cash and 12.5 million in Innovid stock. At the time of writing, this was trading at approximately $3.90, bringing the total value of the deal to around $150m.

Innovid, a leader in connected TV advertising delivery, said the acquisition will help “reimagine the future” of cross-platform TV advertising and position it as a single source for ad-serving and measurement.

The transaction will combine Innovid’s ad serving footprint of more than 95 million connected homes, with TVSquared’s TV measurement and attribution platform. This includes TV viewing and ad occurrence data across millions of households globally.

Commenting on the acquisition, CEO & Co-founder Zvika Netter said: “We believe the combination of independent global ad serving and cross-platform measurement sits at the heart of solving TV measurement’s biggest challenges.

“We’ve spent over a decade building foundational ad delivery and personalization technology to power TV across channels and devices. Now, together with TVSquared by Innovid, we provide advertisers a complete view of the total TV and digital universe through a scalable, currency-grade measurement platform.”

Founded in 2012, TVSquared is one of the largest independent global measurement and attribution platforms for converged TV (CTV).

The firm’s platform is used by thousands of advertisers globally, providing insights on audience reach and campaign effectiveness.

At present, TVSquared employs around 150 staff, with 100 based in Edinburgh.

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As part of the acquisition, Smeaton will step down as chief executive, taking on a strategy role to support the integration with Innovid.

President Jo Kinsella, who has been with the company almost since its inception, is expected to join the Innovid executive team, where he will report to Netter.

Kinsella said: “Together, TVSquared and Innovid are at the centre of TV’s transformation, meeting the market’s needs for a converged TV measurement alternative.”

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