Bellevue-based TV ad measurement company iSpot.tv has acquired competitor 605, which is based in New York City.
The companies announced the deal Wednesday but didn't disclose financial terms. According to a news release, 605's 85 employees are all joining iSpot, which now has 464 employees.
“We are excited to integrate (605's) world-class team of engineers and data scientists in our mission to modernize measurement effectiveness," Sean Muller, founder and CEO of iSpot, said in the release.
An iSpot spokesperson said the employees joining from 605 are primarily in engineering, data science and network servicing. The spokesperson added that there will be an integration period, but the 605 brand will eventually dissolve into iSpot. For now, 605 calls itself on its website "an iSpot.tv company."
iSpot was founded in 2012. The company measures the impact of live TV and streaming ads through the likes of website visits, online purchases and app downloads. Its clients include Google, T-Mobile and Amazon. iSpot also helps clients know where their ads, as well as the ads of competitors, have run.
605, meanwhile, was founded in 2016, according to its LinkedIn page. The company says its technology helps clients "discover who watches what, where and when to better understand programming." Its clients include Walmart, Comcast and NBCUniversal. According to the release, iSpot will add 16.6 million homes to its smart TV footprint through the acquisition, bringing its total footprint to 82.7 million homes.
This is iSpot's fourth acquisition since the start of 2021, but the company said in the release 605 is its largest purchase so far. In March of last year, iSpot acquired the TV-viewing app and analytics company Tunity for an undisclosed amount, adding to the 2021 acquisitions of Ace Metrix and DRMetrix. In April 2022, iSpot raised $325 million from Goldman Sachs Asset Management.
At the time of the Goldman Sachs funding, Muller told the Business Journal iSpot would continue to consider buying companies that help marketers measure the impact of their investments.
"I don't know if we're planning on continuing that pace, but we're definitely planning on continuing doing acquisitions, and maybe we'll be doing larger ones," Muller said at the time.
