In a press release issued late last night Yahoo has announced that they have closed the deal with BrightRoll, the digital video advertising service purchasing it for $640 million (€514 million). This new purchase gives Yahoo a fighting chance at becoming the huge video advertising platform they’ve been wanting to achieve.
“Video, along with mobile, social, and native, is driving a surge in digital advertising. Here at Yahoo, video is one of the largest growth opportunities, and BrightRoll is a terrific, strategic and financially compelling fit for our video advertising business,” said Marissa Mayer, Yahoo CEO.
She added that as with every acquisition, Yahoo has been thoughtful about how it approaches the video advertising space. Mayer believes this acquisition will accelerate the growth of both companies. BrightRoll can scale to even more advertisers at a global level, while the huge platform offering BrightRoll can be offered to Yahoo’s own advertisers.
As for the video advertising platform, they believe the next step for the industry is extending and standardizing globally, making cross-device buying simple and measurable, while complementing and integrating with TV.
“We are excited to join Yahoo to materially advance efforts in each of these areas. We’re still in the early innings as an industry, and together, BrightRoll and Yahoo are committed to the vision of helping grow the entire video advertising ecosystem,” said Tod Sacerdoti, BrightRoll CEO and Founder.