Software major Adobe on Friday announced it has acquired video advertising platform TubeMogul for nearly $540 million.
TubeMogul is a leader in video advertising, with a single platform that enables brands and agencies to plan and buy video advertising across desktops, mobile, streaming devices and TVs.
Adobe Marketing Cloud is the world's most comprehensive and integrated solution for delivering exceptional digital experiences.
Adobe's acquisition of TubeMogul will create the first end-to-end independent advertising and data management solution that spans TV and digital formats, simplifying what has been a complex and fragmented process for the world's biggest brands, the company said in a statement.
""With the acquisition of TubeMogul, Adobe will give customers a ‘one-stop shop' for video advertising, providing even more strategic value for our Adobe Marketing Cloud customers," said Brad Rencher, Executive Vice President and General Manager (Digital Marketing), Adobe.
The acquisition of TubeMogul further strengthens Adobe's leadership in digital marketing and advertising technology.
"Adobe and TubeMogul share a similar culture and vision for the future of advertising," said Brett Wilson, CEO and co-founder, TubeMogul.
Wilson will continue to lead the TubeMogul team as part of Adobe's Digital Marketing business.
The transaction is expected to close during the first quarter of Adobe's 2017 fiscal year.
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