Levy's Weborama launches JV with Hi-Media
The UK operation of Paris-based ad tech and data specialist Weborama has entered in a joint venture with online network and payments company Hi-Media.
Alain Levy: chief executive of Weborama Group
Weborama, run by Alain Levy and listed on NYSE Euronext’s Alternext, is understood to have acquired 50% of Hi-Media.
Hi-Media and Weborama will continue to be operated separately, but the partnership will mean a combined media and services group, in which both will own a 50% stake, will also be offered to customers.
A spokesperson for the company said the two had been working together for some months and the deal cemented a partnership would bring scale and tech benefits.
Weborama UK managing director Mathieu Roche will take on the additional role of Hi-Media managing director.
Roche will report to both Alain Levy, chief executive of Weborama Group and Cyril Zimmermann, chief executive of Hi Media Group
Weborama will integrate its targeting technology, including data services, into Hi-Media’s ad exchange platform with the group looking to push the number of publishers it represents over the coming months.
The combined entity will also offer Weborama’s rich media platform to advertisers and agencies.
Financial details of the deal have not been released, though it is believed there will be no reduction in head count, with the plan to recruit rather than cut.
In a release to the markets this morning, Alain Levy said: "We are convinced that this partnership with Hi-Media will improve our position in a very competitive marketplace and will allow us to demonstrate the quality of our Data and Technology solutions to the online advertising community."
Weborama currently employs 135 people across six European countries including France, Spain and the UK. Hi-Media, which posted sales in excess of €220m last year, has more than 500 people in nine European countries, plus the US and Brazil.
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