Infillion Snaps Up MediaMath at Auction

Ad tech company Infillion picked up the assets of bankrupt DSP MediaMath for the bargain price of $22m at an auction this week.

MediaMath filed for Chapter 11 bankruptcy last month in a Delaware district court, with 300 redundancies resulting and more than $100m owed to creditors including the likes of Magnite, PubMatic, Xandr, LiveRamp, Google, Double Verify, Unruly and Eyeota. Analysts said the highly-funded company missed a number of potential sales, bet on trends that didn't materialise and last year restructured with calamitous consequences.

Infillion was formed in 2022, and grew out of the purchase by location-based targeting specialist Gimbal of Disney's video ad tech unit TrueX two years earlier. A provider of measurement solutions including tools for campaign planning and media buying, it also acquired voice and video survey builder Phonic in February this year. This week the firm's founder and Executive Chairman Rob Emrich (pictured) hinted that it would aim to restore much of MediaMath's business, growing it back to 155 people within three years. At the peak of its success MediaMath was valued north of $1bn.

Court transcripts showed that Infillion's bid narrowly beat the $20.55m offered by London-based sports data and video-streaming company Genius Sports.

Web sites: www.mediamath.com and www.infillion.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.