Extreme Reach announces plan to acquire Adstream
US based complete asset management solution Extreme Reach has announced an agreement to acquire Adstream, a digital advertising distribution company.
The transaction requires approval from Australia’s Foreign Advisory Board. If approved, the deal is expected to go through in Q2 of 2021.
Extreme Reach has announced plans to acquire Adstream
If the acquisition is approved, 400 Adstream employees will join Extreme Reach.
Three Adstream executives will join Extreme Reach’s leadership team: Daniel Mark, CEO at Adstream, will become chief strategy officer; Katie Nykanen, chief technology officer at Adstream, will become chief product officer; and Tim Emly, chief financial officer at Adstream, will become senior vice president finance. Mark, Nykanen, and Emly are all currently UK based.
Extreme Reach was founded in the US in 2008 by CEO Tim Conley and chief technology officer Dan Brackett. The company has since expanded outside of the US, with offices in Toronto and London.
Adstream was founded in Sydney in 2001. Adstream currently has 33 offices worldwide. In 2017, Georgie Charlish was appointed as Australia and New Zealand managing director.
Conley said of the announcement: “I look forward to working with Adstream’s talented leaders and global teams to combine the best technology of both companies, solving marketers’ need for a comprehensive solution. By coming together, we establish a new paradigm for success — for our clients and ourselves – now and for the future.”
Mark said: “In joining Extreme Reach, we answer the call from our global clients with the integration of video ad serving and talent & rights management to all we do today. Together we are excited for this defining moment, not only for our clients around the world but also for our teams as well.”
