Brandscreen out of administration as US firm Zenovia steps in saving remaining staff
Australian-based demand side platform Brandscreen has been bought by US firm Zenovia in an “eight digit” deal saving the firm from administration.
As Mumbrella revealed in January the firm went into administration just after Christmas, after the joint founders Julian Tol and Seth Yates had failed to sell the business and “bridging finance did not complete” which also has one employee left in Singapore. At the time administrators Jirsch Sutherland said they were looking for a quick sale, after restructuring the business.
On Friday Zenovia, which claims to be the “premier” click fraud reducing exchange, completed a deal to buy the company, having only been alerted about its availability in late January.
Dwight Ringdahl, founder and CTO of Zenovia Exchange, told Mumbrella this morning: “This acquisition gets us a better platform in the Asia market and Australia, and a premium technology offering we can load our offering on top of.
A network that rates its own inventory. Novel.
Zenovia gains what’s left of the team: Neither founder, and 3/4 of the team were sacked or quit. What Zenovia bought are clients and a foothold in China.