SingTel exits adtech business with US$239m sale of Amobee

Advertising DMP purchased by rival cross-channel advertising orchestration player, Tremor International

Singtel has attributed its decision to sell its digital adtech business, Amobee, for US$239 million to its decision to focus on higher-return growth areas.

The Singapore-based telco is divesting its US digital media and advertising subsidiary to adtech firm, Tremor International, under a deal valued at US$239 million. After transaction costs and adjustments for debt, the net proceed SingTel expects to realise from the sale was $197 million.

The divestment comes nearly nine years after SingTel first bought the Amobee DMP business, a deal it said would help it scale and deliver real-time, personalised marketing to mobile consumers. The original acquisition was worth US$321 million.

The purchase was complemented in 2014 by the $150m acquisition of content analytics platform, Konterra, as well as cross-channel advertising player operating in both the US and Australia, Adconion, for US$235 million, or $209 million excluding debt. In addition, under SingTel ownership, Amobee had been complemented by further acquisitions. These include the US$310m purchase of programmatic adtech vendor, Turn, in 2017. At that time, SingTel said the deal brought its total investment into Amobee to $1 billion.

In a statement, SingTel said the decision to divest Amobee is in line with a strategic reset to sharpen its business focus and recycle assets and capital into growth areas with higher returns. The confirmed in May announced that Amobee, a non-core business, was classified as a subsidiary held for sale in March this year. Following the Amobee divestment, Singtel will cease to hold any equity interest in the Amobee business.

“This divestment reflects our resolve in executing to our strategic reset,” Singtel Group chief executive officer, Yuen Kuan Moon, said. “We are actively reshaping our portfolio to ensure optimal allocation of resources towards new growth drivers, as well as improve shareholder value.”

Completion of the Amobee divestment is expected by September 2022 and subject to sale conditions as well as regulatory approvals.

Nasdaq-listed Tremor International has a video-based platform for orchestrating digital advertising campaigns across the open Internet. The Amobee acquisition comes two-and-a-half years after Tremor acquired News Corp-owned adtech subsidiary, Unruly, reportedly for US$19 million plus $39m in revenue over a three-year period from exclusive video ad streaming deal between the two companies. It also comes a year after Tremor’s acquisition of global CTV ad server and media management platform, Spearad, for US$14.7 million.

Nominations for the CMO50 2022 list of Australia's most innovative and effective marketing leaders are now open! Don't miss this opportunity to be recognised among the best marketers this country has to offer as well as celebrate your team's achievements get your questionnaire completed now:

Don’t miss out on the wealth of insight and content provided by CMO A/NZ and sign up to our weekly CMO Digest newsletters and information services here.  

You can also follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, follow our regular updates via CMO Australia's Linkedin company page     


Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

More Videos

More Brand Posts

What are Chris Riddell's qualifications to talk about technology? What are the awards that Chris Riddell has won? I cannot seem to find ...


Digital disruption isn’t disruption anymore: Why it’s time to refocus your business

Read more



CMO's top 10 martech stories for the week - 9 June

Read more

Great e-commerce article!

Vadim Frost

CMO’s State of CX Leadership 2022 report finds the CX striving to align to business outcomes

Read more

Are you searching something related to Lottery and Lottery App then Agnito Technologies can be a help for you Agnito comes out as a true ...


The Lottery Office CEO details journey into next-gen cross-channel campaign orchestration

Read more

Thorough testing and quality assurance are required for a bug-free Lottery Platform. I'm looking forward to dependability.

Ella Hall

The Lottery Office CEO details journey into next-gen cross-channel campaign orchestration

Read more

Blog Posts

Marketing prowess versus the enigma of the metaverse

Flash back to the classic film, Willy Wonka and the Chocolate Factory. Television-obsessed Mike insists on becoming the first person to be ‘sent by Wonkavision’, dematerialising on one end, pixel by pixel, and materialising in another space. His cinematic dreams are realised thanks to rash decisions as he is shrunken down to fit the digital universe, followed by a trip to the taffy puller to return to normal size.

Liz Miller

VP, Constellation Research

Why Excellent Leadership Begins with Vertical Growth

Why is it there is no shortage of leadership development materials, yet outstanding leadership is so rare? Despite having access to so many leadership principles, tools, systems and processes, why is it so hard to develop and improve as a leader?

Michael Bunting

Author, leadership expert

More than money talks in sports sponsorship

As a nation united by sport, brands are beginning to learn money alone won’t talk without aligned values and action. If recent events with major leagues and their players have shown us anything, it’s the next generation of athletes are standing by what they believe in – and they won’t let their values be superseded by money.

Simone Waugh

Managing Director, Publicis Queensland

Sign in