Marketing technology firm DG Media Mind is rebranding to Sizmek, following the sale of DG’s TV distribution assets to Extreme Reach for $485 million, in a move that will see the firm focus on its online ad management platform.
The move signals the close of the sale of its TV distribution assets to Extreme Reach for $485 million plus cash and working capital from DG’s television business, DG has spun off its online business into a new online company named Sizmek, an open ad management platform with over 5000 agencies and representatives in 48 countries.
Following the closing of the transaction and the cash distribution, Sizmek is expected to have total cash of approximately $60 million and total working capital of approximately $60 million, including cash and working capital from DG’s television business.
“Sizmek is entering an exciting chapter in its evolution, combining 15 years of experience developed at DG, MediaMind, Peer39, Unicast, Eyewonder, and Republic Project,” said Neil Nguyen, CEO and President of Sizmek. “With a solid balance sheet, thousands of customers, and a cutting-edge open technology platform that delivers global scale for our customers, we are already hard at work in realizing our vision for substantial growth.”
“Our global advertisers demand a scaled technology solution with regional capabilities,” continued Nguyen. “We see an immense opportunity to continue to innovate with Sizmek MDX, and a strong focus for us will be to accelerate our strategy to open up our platform to best in-breed providers to ensure that our customers can use their tools of choice such as an in house capability, a large global SEM or a local DSP. We will help our clients create the operational leverage they seek as their digital operations expand in order to maximize the effectiveness of their campaigns.”
Sizmek currently connects over 20,000 global advertisers and 5000 agencies to their audiences, serving more than 1.5 trillion impressions a year. Sizmek operates in 48 countries with over 850 employees worldwide.
www.sizmek.com