This acquisition will enable the two companies to deepen their existing integration, which allows agencies and brands to analyze linear and CTV advertising together, along with other forms of programmatic advertising including addressable, mobile, video, display, native and social, according to company officials. Performance advertisers will be able to automate workflows, integrate attribution reporting and execute and measure media buys.
Since its founding, Simpli.fi has focused on automating media buying for advertisers and agencies. The programmatic advertising platform has grown to execute over 100,000 campaigns for over 25,000 advertisers each month.
With the acquisition of CoreMedia, Simpli.fi adds to its end-to-end agency workflow solution, enabling advertisers to automate more of their operations and improve the performance of their advertising, company officials promised.
"We are excited to add the CoreMedia team to the Simpli.fi family," Frost Prioleau, CEO of Simpli.fi, said in a press release. "By joining forces and deepening the integration of our platforms we will be able to deliver powerful new capabilities that integrate the planning and buying of linear and connected television."
The news comes nearly seven months after Blackstone announced it had entered into a definitive agreement to make a significant equity investment in Simpli.fi. Blackstone joined existing investor GTCR, a private equity firm, as majority shareholders in the company. The investment, which was made through Blackstone’s flagship private equity vehicle, valued the Fort Worth, Texas, company at approximately $1.5 billion. GTCR acquired a majority interest in the company in 2017.