Teads, a global advertising technology company, acquired Buzzeff, an online advertising specialist in the Middle East and North Africa, to expand its outreach and services for regional advertisers.
Teads Mena, the newly merged company as a result of the acquisition, has locations in Dubai and Casablanca. It will offer data services, outstream video and full funnel solutions to advertisers.
"By acquiring Buzzeff, we've added a new dimension to our offering. Not only have we strengthened our presence in Mena, an important region for us, but our direct footprint means that we can capture more growth opportunities and get closer to strategic clients," said Pierre Chappaz, executive chairman at Teads headquarters in New York, on Wednesday.
The value of the deal, concluded on January 16, was not disclosed. With a team of more than 750 people in 26 countries, Teads collaborates with marketers, agencies and publishers, and provides platform to its advertisers targeting 1.4 billion audience a month, the company said.
Media ad spending worldwide reached $628.6 billion in 2018 and is expected to grow more than 26 per cent to $792.7bn by 2022, according to eMarketer, a researcher in New York. Spending on digital ads in Mena region accounts for about 10 per cent of the total global ad spend, according to Y Marketing Strategy Consulting.
Growing global e-commerce and shifting viewership from traditional TV to digital platforms have led to digital ad spending dominating the advertising industry. By 2022, digital content will account for about 54 per cent of the total ad spend, forecasts eMarketer.
“Mergers and acquisitions in our industry are not a commonplace in this region, so this is a real milestone,” said Jerome Mouthon, previously founder and chairman of Buzzeff MEA, and now the lead for Teads Mena.