On Tuesday, connected TV-centric ad-tech outfit Innovid announced it would acquire the programmatic creative agency Herolens. The deal—which comes on the heels of a $30 million funding round for Innovid, will allow advertisers on the company’s platform to better tailor their ads for customers in real time based on their location, the size of their screen and much more.
“We’re seeing creative agencies, media agencies, telling us that they want to use data in a smarter way,” said Innovid CEO Zvika Netter.
He added that, more and more, it’s not just about using ad tech to automate buys, but making sure those buys are personalized for each consumer—something Herolens excels in, according to Netter.
The merger will also give the media buyers on Innovid’s platform access to an entirely new avenue of advertising—display—to complement the company’s video-centric ad offerings.
As Netter explained, being a TV-targeting company isn’t enough for those media buyers looking to hit modern, tech-savvy consumers across every screen. Display, he explained, offers a bevy of targeting and tracking options, such as cookies, that aren’t available through televised offerings.
This year has seen major tech players eschewing ad-tech firms in favor of snapping up cloud computing companies. But their absence hardly means that mergers and acquisitions in the ad-tech space are on the decline—according to a recent report from Luma Partners, companies like Spotify and Viacom are spending hundreds of thousands to ramp up their data-driven offerings, while Amazon’s blockbuster acquisition of Sizmek’s assets this past summer secured the e-commerce giant as a contender against the duopoly.