Synacor will pay $3 million to acquire ad-tech company Technorati.
The company announced the purchase of the 13-year-old, privately funded company in a Tuesday morning press release. The purchase price was confirmed in an 8K posting rendered by Buffulo, N.Y.-based Synacor.
Synacor serves telco industry clients including Suddenlink Communications, Mediacom, CenturyLink and WideOpenWest, providing web-based platforms and TV Everywhere services, among other offerings
Reaching a monthly audience of around 20 million unique Internet users through these efforts, Synacor says that selling advertising generated about 45 percent of its 2015 revenue.
In acquiring Technorati, Synacor will get an ad network that currently serves around 1,000 publishers with nearly 100 million uniques, more than half of them coming through mobile.
"Advertising is an important growth engine for Synacor," said Synacor CEO Himesh Bhise in a statement. "In the past year we dramatically improved advertising monetization in line with our strategy to increase value for our customers. Combining Technorati's publisher network, SmartWrapper header bidding solution, and advertising technology with Synacor's existing portal network and monetization engine creates a large-scale Media Solutions Platform. We welcome the talented Technorati team, which shares our ethic of being a trusted partner to customers."
As a start-up, Technorati raised more than $32 million from investors including August Capital, Draper Fisher, Jurvetson and Reid Hoffman, according to TechCrunch. The company took in $7 million in 2015 revenue.
For more:
- read this Synacor press release
- read this TechCrunch story
- read this Multichannel News story
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