Press Release February 24, 2017

Amobee Expands Digital Marketing Technology with Acquisition of Turn for $310 Million

In what is the fifth transaction Goodwin has advised on for telecom provider Singtel and its U.S.-based subsidiary Amobee, the Technology team represented Amobee in its agreement to acquire Turn for approximately $310 million. The transaction is subject to regulatory approvals and customary closing conditions, and is expected to be completed in the first half of 2017.

The acquisition will make Amobee one of the largest independent buy-side marketing technology providers globally and will enhance the company’s data analytics capabilities, helping to further its mission of “being the global source of truth for marketers.” It will also prime Amobee for expansion into the Asia Pacific region, where Singtel reaches 640 million customers across 22 countries.

Amobee is a global marketing technology company serving the world's leading brands and agencies. A wholly owned subsidiary of Singtel, one of the largest telecommunications companies in the world, Amobee operates across North America, Europe, the Middle East, Asia and Australia.

Singtel is Asia's leading communications and ICT solutions group, providing a portfolio of services to both consumers and businesses. It operates in Asia, Australia and Africa, and its infrastructure and technology services for businesses span 21 countries, with more than 370 direct points of presence in 325 cities.

Turn is an advertising technology company delivering real-time insights that transform the way leading media agencies and enterprises make marketing decisions. Its platform enables anonymous audience planning, data centralization, cross-device advertising and advanced analytics, along with point-and-click access to more than 150 integrated technology partners worldwide.

The Goodwin team was led by partner Larry Chu and included partner Aly Simons and associate Natalie Martirossian.

For additional details on the transaction, please read the press release.