Madhive, the leading technology company for local Connected Television advertising announced that it has completed the acquisition of Frequence Inc, the premier omnichannel ad sales enablement and workflow software for local media companies and agencies. As a result of this transaction, local media markets will have access to one streamlined offering to deliver precise, geo-targeted messages across streaming TV, search, online video, display, audio, out-of-home, and social.
Madhive’s outcome-driven local CTV platform powers hundreds of millions in media spend for major media companies like Fox, Tegna, Scripps, Katz, and agencies like Lifebrands. Frequence’s workflow software and media services empower local media companies such as Spectrum Reach, Hearst, and Beasley to manage and execute omnichannel digital marketing campaigns for local advertisers.
As a result of this acquisition, the combined company will provide a client-focused, integrated platform for end-to-end planning, creative production, activation, and measurement. Madhive’s enterprise clients will be able to extend CTV-first campaigns across additional channels to drive full-funnel KPIs. Frequence’s planning capabilities will integrate with Madhive’s platform to automate workflows across proposals, reporting, and analytics, supporting over 30,000 advertisers daily.
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“Madhive is committed to empowering local media markets with advanced technology for digital campaigns, whether at a national level or within specific zip codes,” said Spencer Potts, CEO at Madhive. “This acquisition brings together two synergistic companies, marking a pivotal step in our journey to becoming the digital hub for the SMB market. By integrating Frequence’s technology, we will streamline the planning and execution of local campaigns across multiple channels.”
“Madhive’s acquisition of Frequence opens up new opportunities for our customers and their advertisers,” said Tom Cheli, CEO of Frequence. “Over the past fourteen years, Frequence has become the leading omnichannel advertising sales platform through relentless innovation. Now, united with Madhive, we will create an end-to-end solution for local media companies.”
This acquisition follows Madhive’s recent $300 million investment from Private Equity at Goldman Sachs Alternatives to fuel growth and expansion into new channels beyond the local CTV space.
SOURCE: BusinessWire