Donovan Data Systems (DDS) is set to merge with its main US competitor MediaBank, claiming to create ‘the largest independent advertising technology company in the world’.
The two media technology companies will create a new company called MediaOcean, managing TV, print, radio and digital campaigns for clients.
DDS and MediaBank are thought to be valued at $500 million and will process $150 billion in global ad spend annually.
The board for the new company will be made up of three directors from DDS and three from MediaBank. J.T.Batson, president of DDS Digital, will take on a the role of president of MediaOcean.
MediaOcean will invest heavily in its core applications, including national and local TV, print, out of home, and radio and digital, along with creative workflow management.
DDS and MediaBank’s joint resources will develop a new, universal and open operating system for the advertising industry.
The mission to create the OS, called the MediaOcean OS Project, will encompass common standards, open platforms and universal APIs, to enable agencies, media seller or third party to integrate with each other as well as with the MediaOcean systems.
MediaOcean will be led by Michael Donovan, founder and chairman of Donovan Data Systems, as MediaOcean executive chairman; and Bill Wise, MediaBank CEO, as the new company’s CEO.
MediaOcean is focused on the industry worldwide. “Technology solutions must address the global advertising industry, enabling the coordination of technology across businesses, applications and data, media channels and geographic regions,” says Bill Wise. “Our goal is to give agencies the tools and control they need to realize their full value in a changing landscape, and to do so with complete transparency and neutrality.”
Michael Donovan, executive chairman of MediaOcean, is confident that the combined companies will enable clients to do their jobs effectively on a global scale. “The potential of the merger is enormous. It will enable the entire industry and inspire every advertising professional and system developer. It will empower agencies to embrace continuous change and keep their lead in a fast changing digital world—no matter what automation, digital media and new players in the advertising space may throw at them. After more than four decades in the media technology business, I can’t think of a more exciting next step.”
The merger is pending US government regulatory approval. LUMA Partners advised DDS on the deal.
www.mediaocean.com
