Marketing technology firm 24/7 Real Media has bought Panache, a provider of digital video advertising fulfillment software and services, for an undisclosed sum.
“Panache’s technology capabilities and extensive selection of video ad formats are unmatched in the industry,” said David J. Moore, Founder, Chairman and Chief Executive Officer of 24/7 Real Media. “The addition of these assets to 24/7 Real Media’s robust offerings, will empower us to satisfy the large and growing appetite for video in the digital advertising marketplace.”
The addition of the digital video advertising technologies to 24/7 Real Media’s Open AdStream ad management platform will creates new revenue generating opportunities for clients of both companies.
Online video advertising is expected to continue its explosive growth. A recent study released by the Interactive Advertising Bureau (IAB), conducted by Advertiser Perceptions, shows that 69% of marketers and 55% of agencies plan to increase their digital video advertising, with 22% growth predicted in the next 12 months.
Panache’s Ad Catalog includes a portfolio of 25 formats, all of which are supported on a range of commonly used video players.
“24/7 Real Media is a respected leader in multiplatform ad management, targeting and analytics,” said Steve Robinson, President, Panache. “Our combined capabilities create opportunities to greatly boost video and advertising revenues for our clients across all formats and devices, while reducing their operating costs and increasing efficiencies. Any publisher serious about profitable video ad monetization needs to pause, put decisions on hold, and look at what our combined companies bring to the table.”
By fully integrating Panache’s digital video advertising capabilities into its market-leading technology platform, Open AdStream, 24/7 Real Media leaps ahead on in-stream video with workflow, formats, and analytics-driven insights that drive new revenue opportunities for publishers, advertisers and agencies alike.
Advertisers now have access to scaled reach with brand safe video capabilities across 24/7 Real Media’s Global Web Alliance and many of the premium publishers leveraging Open AdStream.
www.247realmedia.com
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