A marketing technology company announced on Tuesday that it completed the acquisition of Videology‘s assets, and plans to keep a presence in Baltimore.
Amobee, a subsidiary of Singapore communications company Singtel, won an auction in July to acquire the the Baltimore-founded video advertising startup, which filed for Chapter 11 bankruptcy earlier this year.
Silicon Valley–based Amobee emerged as a bidder when Videology declared bankruptcy in May. At the auction, a competing bid was submitted by U.K.–based ITV Broadcasting Limited that could’ve resulted in a management buyout and relocation of headquarters to London, Video Ad News reported. But Amobee emerged as the winner. The purchase price was listed at about $101 million.
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