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Entravision completes deal with Cisneros
Posted on Thursday, 15 October 2020 14:46
Entravision Communications has acquired a majority stake in US-based digital advertising company Cisneros Interactive.
Financial terms were not disclosed.
Established in 2010, Cisneros provides advertising services for customers throughout the Hispanic market.
Through its JustMob and Audio.Ad divisions, the group offers mobile and digital audio technology across 17 countries worldwide.
Cisneros also serves over 2,000 brands and agencies throughout the US and Latin America and its clients include the likes of Facebook, Spotify and LinkedIn.
Following the deal, the target will join Entravision Digital, which provides a range of digital offerings, such as data, creative and programmatic platforms.
All of Cisneros’ employees will remain with the business.
Adriana Cisneros, chief executive of the target, said: “Entravision’s investment is a significant milestone for our company and will accelerate our growth potential by providing operational synergies, new resources and dynamic platforms.
“Working hand-in-hand, we will elevate our combined businesses to a global arena of premier digital clients, while generating unique and valuable assets for the marketing and ad-tech [advertising technology] industries.”
The transaction will also enhance Entravision’s offerings and position the combined entity as one of the largest premier digital advertising companies for customers in the US, Hispanic and Latin American markets.
Commenting on the transaction, the buyer’s chairman, Walter Ulloa, said: “This investment aligns with our mission, given the breadth of Cisneros’ services, the quality of its global partnerships and the sophistication of its sales operations.”
During the six months ended 30th June 2020, Entravision posted revenue of USD 109.37 million, down 18.0 per cent from USD 133.92 million in the corresponding period of 2019.
Zephyr, the M&A database published by Bureau van Dijk, shows there have been 216 deals targeting advertising agencies announced globally since the beginning of 2020.
Charlesbank Capital Partners snapped up US-based News America Marketing for USD 235.00 million in the largest of these.
Simei Media, Hakuhodo Zeta and S4 Capital, among other companies, were also targeted in this sector.
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