Michelle Clancy | 06-09-2013
SingTel's Amobee, which specialises in digital advertising, has acquired Gradient X, the real-time ad bidding platform company.
The acquisition means that Amobee's platform can incorporate real-time bidding functionality that includes support for multiple ad channels and formats, including video and HTML5. As a result advertisers can programmatically bid on digital inventory with constant price optimisation in real time. Analytics capabilities also allow for full campaign transparency, leveraging multiple data signals to allow for sophisticated audience and contextual targeting.
"Together with Gradient X, our combined technology stack will bring groundbreaking solutions to the office of the CMO," said Trevor Healy, CEO at Amobee. "The CMO is the new CTO and will be the biggest influencer of enterprise platform purchases in the future. We are going to be right there. The founders and engineering team of Gradient X are technology rock stars, and when we met them we knew they had to be a part of the top team at Amobee."
Gradient X CEO Brain Baumgart (formerly chief strategy officer at Adconion Direct), CIO Julie Mattern (co-founder and formerly the chief technologist at the Rubicon Project) and CTO Michael Lum (former head of engineering at OpenX) will all be joining the company.
SingTel bought Amobee last year for $321 million. Gradient X had raised $3.75 million at the time of acquisition; its platform came out of beta earlier this summer.