RhythmOne buys YuMe
YuMe shareholders will receive $1.70 per share and 7.325 shares of RhythmOne stock (which equates to approximately $185m).
The purchase will create a combined business providing fully integrated online ad solutions.
RhythmOne’s CEO, Ted Hastings (pictured), will lead the combined company. Additionally, YuMe will appoint two directors to the newly constituted board of directors, one will be Eric Singer, who will be chairman of the board.
Hastings said: “Acquiring YuMe accelerates RhythmOne’s strategy to build a unified programmatic platform with unique audiences of differentiated quality at scale. Through YuMe, RhythmOne gains access to premium video supply including emerging, high-value connected TV inventory, unique customer insights, cross-screen targeting technology and established demand relationships.”
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