RadiumOne acquired by RhythmOne, global president Kerry McCabe to depart
San Francisco-based RhythmOne will acquire data-driven marketing platform RadiumOne with Kerry McCabe, RadiumOne’s global president, to leave the company immediately.
The transaction, which was closed on June 26, will see all of RadiumOne’s staff join the US-based digital media company.Having founded RadiumOne’s Asia Pacific operations, McCabe moved into the international role last year with a plan to split time between Sydney and RadiumOne’s New York head office .
The company claims he decided to stay in Australia for family reasons and he advised the RadiumOne board he would depart the business immediately upon completion of this acquisition despite supporting the transaction.
McCabe is well known in Sydney industry circles being the chair of the media and marketing industry’s charitable foundation UnLtd which he founded in 2007.
For RhythmOne the acquisition gives the company access to consumer insights, audience segmentation and targeting technology through RadiumOne’s platform.
Kerry McCabe
“One of the biggest challenges facing advertisers today is how to leverage the rich data they get from customers throughout the buying cycle,” said Richard Nunn, CRO of RhythmOne in a media release.
Dave Zinman, COO of RadiumOne added: “This union will allow two advertising technology leaders to create something truly differentiated in the market. The future of advertising is not about measuring impressions, but about driving real engagement. Together, RadiumOne and RhythmOne will provide insights, prediction, campaign targeting, execution and measurement that is relevant to the consumer, delivers outstanding ROAS and, crucially, results in real business outcomes for advertisers.”
With the addition of RadiumOne’s 200 staff, RhythmOne’s global team will grow to 525 employees, expanding its North American headcount while giving the company a presence in Europe and the Asia Pacific.
RadiumOne has had close to $90m in funding. This deal sees part of the company being sold, to a company most people probably couldn’t have picked out of a line-up, for less than $23m, with only about $5m in cash. How did that happen? What does it mean for the sector? Does it matter?
There’s no need to focus on negative stories necessarily, but it would be good if there was some chance of any of our industry publications digging below the press release (though all of this was in the press release in fact).
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