MediaMath, which filed for Chapter 11 safety on June 30, formally has a brand new dwelling: Infillion.
The video advert tech platform’s $22 million money bid for MediaMath’s DSP and DMP belongings was accredited in a Delaware chapter court docket on Wednesday.
“We’re thrilled about our acquisition of MediaMath, and look ahead to sharing extra info quickly,” Infillion CMO Laurel Rossi stated in assertion shared with AdExchanger on Thursday.
Placing apart how “thrilled” Infillion is, this deal marks a shocking fall from grace for MediaMath, which was as soon as one of many largest names in advert tech.
Infillion is paying a paltry 2% of MediaMath’s peak valuation of $1 billion.
However in keeping with Rob Emrich, Infillion’s founder and govt chairman, the corporate expects that MediaMath will probably be able to develop beneath new management.
Throughout Wednesday’s public sale proceedings, Emrich stated he believes that MediaMath’s tech stack will generate $1 billion in “stock site visitors, information charges and internet hosting contracts over the subsequent 5 years.”
MediaMath is sensible as an addition to Infillion’s advert tech stack.
Infillion is the love little one of location information firm Gimbal and TrueX, a video advert tech platform specializing in interactive advert items that Gimbal acquired from Disney in 2020. Gimbal and TrueX rebranded beneath the identify Infillion final 12 months.
MediaMath brings a 15-year-old demand-side platform to the desk, which ought to assist flesh out Infillion’s programmatic advert tech stack.
It’s nonetheless up within the air what is going to occur to the $125 million in unpaid payments the now-bankrupt DSP owes its former SSP companions – particularly contemplating Infillion could also be enthusiastic about reigniting these ties, a supply with information of the matter instructed Insider.
Infillion declined to verify with AdExchanger whether or not or not it could be answerable for any of MediaMath’s excellent money owed.
Both manner, Infillion seems assured that it may well revive MediaMath’s advert tech and start a brand new chapter.
Godspeed.
