StockMarketWire.com - Advertising group Tremor International said it had acquired CTV video ad server and media management platform Spearad for $14.7 million.

The acquisition sum being covered with $11 million of existing cash reserves with the remaining $3.7 million satisfied in shares.

'Tremor's consistent, primary focus on video and CTV has proven prescient in today's market, leading to meaningful growth across our exchange and putting us ahead of platforms only recently evolving from display,' chief executive Ofer Druker said.

'The acquisition further strengthens our leadership position as a video-first end-to-end platform, which provides real efficiencies for global advertisers, media companies and broadcasters in an ecosystem increasingly centred on connected TV.'


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