IMS Internet Media Services (IMS), a subsidiary of Sony Pictures Television Networks and one of the largest digital ad sales and media-buying companies in Latin America, is set to acquire 51% stake in cross-channel ad network Httpool.
Httpool has offices in 19 countries across Central and Eastern Europe, Asia and Russia. In India, which is Httpool’s second-largest market after Austria, it has offices in Mumbai and Delhi.
Headquartered in Miami, IMS also has offices in Brazil, Mexico, Argentina, and other Latin American (LATAM) markets, where brands like EA, Foursquare, LinkedIn, Spotify, Snapchat, Twitter, Yahoo, Twitch, Vevo and Waze work exclusively with IMS.
With the deal, IMS will secure presence across three continents and have advanced solutions and ability to execute truly international advertising initiatives outside the LATAM markets.
The deal, subject to regulatory approvals, will create one of the largest digital marketing and ad sales companies in the world with a combined operation supporting over 6,000 agencies and brands worldwide. Jointly, IMS and Httpool manage more than 25,000 annual advertising campaigns and exclusively represent Twitter, LinkedIn, Spotify, Snapchat and other 5,000 global and local publishers across 30 countries.
“This acquisition will enable IMS to develop some of the highest-potential geographies across Europe and Asia, and create a truly global company. IMS and Httpool together can offer end-to-end solutions in digital marketing campaign delivery, helping partners with our deep knowledge of local markets, and empowering local publishers, advertisers and thousands of digital professionals and entrepreneurs,” said Gastón Taratuta, CEO and founder, IMS.
IMS will support Httpool through shared group management, business development, marketing, joint R&D, centralised finance, legal and other functions, and access to its technology and media partners, international advertisers and an extensive education platform.
For Httpool India, which is a 51:49 joint venture between Httpool Holdings and local partner and co-founder Sunny Nagpal, before IMS picking up majority stake in Httpool, the holding company will buy back the remaining stake from Nagpal.
“Httpool Holdings is buying back my shares in Httpool India and it will become a wholly owned subsidiary. I will remain as managing director here along with other management,” Nagpal told ET.
Httpool, which entered India in 2010, has worked with over 300 brands in the country executing over 2,500 campaigns annually across all channels of digital advertising.
Nagpal said this partnership with IMS will give Httpool India access to a diverse range of products and technologies from enriched markets, as well as knowledge sharing of best practices, which will not only expand their portfolio but also help in their endeavor to change the dynamics of Indian digital advertising.
“Integration of Sony’s presence in the country and Httpool’s expertise will further elevate the digital advertising experience for all our partners and provide us with a platform to create a greater impact in an exhaustive market like India. This association will not only help Httpool India to showcase our expertise but also fuel our growth to help expand our proprietary solutions across markets” Nagpal added.
Source: Economic Times