News Corp sells video ad platform Unruly to Tremor
Video ad tech firm Tremor International has struck a deal with News Corp to buy its programmatic video marketplace, Unruly.
In return for the sale, News Corp is to receive 6.91% of Tremor International stock.
Tremor has also committed to a three-year partnership with Rupert Murdoch's global media company, which will see Tremor equipped with the exclusive rights to sell outstream video on over 50 News Corp titles in the UK, US and Australia.
As part of the agreement, the ad tech firm has guaranteed £30m in advertising spend with News Corp for the duration of the partnership.
According to Robert Thomson, chief executive of News Corp, the deal is an "important step" in the business' "strategy of simplification".
"We look forward to partnering with Tremor and are grateful to Unruly and its truly talented team, who have helped our businesses in the U.K., US and Australia advance their digital advertising expertise.”
News Corp acquired Unruly in September 2015 in a deal worth £114 million. It was the first deal announced after Rebekah Brooks took over as CEO of News UK, the media giant's British publishing wing.
Both Brooks and Norm Johnston, CEO at Unruly, are to join Tremor's board of directors in the near future.
Commenting on the acquisition, Ofer Druker, CEO of Tremor International, said: “With this deal, Unruly and the relationship with News Corp bolster Tremor International’s supply side platform, giving us a global footprint and allowing us to more rapidly take our recently acquired RhythmOne offering to an international market."
Tremor, which is headquartered in Israel, is to run its business under the Unruly brand in the European and APAC markets.
Shares in the business were up 4.4% in early trading at 177.5p.