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Wednesday, May 29, 2024

DoubleVerify Buys AI Campaign Optimisation Solutions Company Scibids

DoubleVerify, a leading software platform for digital media measurement, data and analytics, has announced that it has entered into an agreement to acquire Scibids Technology SAS, a global leader in AI-powered digital campaign optimisation. The acquisition of Scibids is a cash and stock transaction valued at $125 million, with additional potential consideration based on certain performance metrics. The transaction is anticipated to close in the third quarter.

The acquisition expands DoubleVerify’s product leadership in real-time, campaign optimisations – and allows the company to combine its trusted media quality and performance data, which includes viewability, contextual and attention signals, with Scibids’s proven AI technology and real-time optimisation algorithms. This first-of-its-kind joint offering allows DoubleVerify to span the media transaction end-to-end, from activation to measurement, and provides advertisers real-time campaign optimisation, without the use of third-party cookies. Importantly, the acquisition progresses DoubleVerify from the realm of proxy for performance to actual ad KPI achievement and tangible business outcome – fully in line with advertiser goals.

“The acquisition of Scibids is a decisive step in our journey to power superior campaign outcomes that started with developing and delivering the industry standard in media quality insights and has evolved into putting that data to work for advertisers,” said Mark Zagorski, DoubleVerify CEO. “The combination marries DoubleVerify’s proprietary data with Scibids’ AI-powered optimisation technology, allowing us to empower brands with unparalleled insights and control over their advertising performance.”

Scibids builds AI that automates and optimises an advertiser’s programmatic buying of digital ad campaigns. Leveraging DSP impression-level data feeds (including price), first-party data and measurement data provided by the brands or their agencies, Scibids AI dynamically generates custom bidding algorithms for clients aligned with the advertiser’s KPIs and desired outcomes. Scibids’ clients include all major holding companies, independent agencies, and top global brands that include Allianz, Dell and Spotify.

“DoubleVerify is a company that shares our commitment to independence, innovation and maximising media performance, and we’re thrilled to take our partnership to the next level,” said Remi Lemonnier, CEO & Co-Founder of Scibids. “This partnership will amplify the capabilities of our customisable AI technology and expand its impact across the digital advertising ecosystem to strengthen the open web. We look forward to working with the entire DoubleVerify team to deliver new opportunities and maximise campaign outcomes for our global advertisers and partners.”

The acquisition will provide advertisers with multiple benefits including:

  • Maximise business outcomes and ROI across all addressable paid media bought programmatically, by incorporating DoubleVerify’s granular metrics in multidimensional dynamic optimisation.
  • Ensure continuous optimisation through the integration of DoubleVerify’s impression-level media quality and performance data, and Scibids’ proprietary AI technology in optimisation algorithms.
  • Streamline manual efforts and drive operational efficiencies by employing automated bidding across leading DSPs, including Google’s DV360, The Trade Desk, and Xandr, to name a few.

DoubleVerify recently announced an exclusive commercial partnership with Scibids together with the launch of DoubleVerify Algorithmic Optimiser – a cutting-edge solution that supercharges attention metrics with customisable AI. In-market campaign tests with a number of Fortune 500 brands demonstrated the efficacy of DoubleVerify Algorithmic Optimiser, with results on average showing a 63% increase in attention levels and a 95% increase in impressions won across several campaigns. The acquisition will expand DoubleVerify’s ability to deliver real-time campaign optimisations leveraging its comprehensive media quality and performance data.

“Through our combination with Scibids, DoubleVerify will lead the industry in dynamic campaign optimisations that drive real business outcomes,” added Zagorski. “The acquisition allows us to redefine the verification space and offer a continuous feedback loop between activation, measurement and optimisation – powered by AI technology and the most trusted impression-level media quality and verification data in the space.”

DoubleVerify has over a decade of experience building digital transparency and trust in the advertising ecosystem – protecting brand reputation and powering media performance. Core to this trust is DoubleVerify’s independence, offering solutions that advertisers can employ across environments, formats and devices to meet their specific campaign objectives. DoubleVerify’s combination with Scibids is a marriage of two best-in-breed, objective platforms – both of which are ad-server and media agnostic – offering advertisers trusted data and AI technology to help them maximise their digital investments.

Under the terms of the agreement, DoubleVerify will acquire Scibids for $125 million, subject to customary adjustments, consisting of approximately $66 million of the purchase price payable in cash and the remaining consideration payable in DoubleVerify common stock. The terms of the transaction include potential additional consideration based on achievement of certain performance milestones.

Scibids was advised by LUMA Partners.

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