Business Growth Fund (BGF), backed by five major UK banks, is set to exit UK-based advertising technology producer Unruly following media conglomerate News Corp’s agreement to acquire the company, TechCrunch reported yesterday.
The acquisition deal consists of $90m in cash and up to $86m in future payments dependent on performance objectives. The deal is expected to close by the end of the month.
Established in 2006, Unruly’s technology tracks user engagement with videos. The platform is also able to make recommendations on how to increase views, likes and shares on social media networks in order to boost the odds of the video going viral.
The company will assist News Corp with video content creation, particularly targeting millennials, while Unruly’s products will also be made available to News Corp’s agency and advertising partners. Unruly will continue to operate under its own brand.
Unruly attracted $25m in funding in 2012 from BGF, Amadeus Capital Partners and Van den Ende & Deitmers.
Van den Ende & Deitmers, founded by founder of media company Endemol Joop van den Ende, has since rebranded to Endeit Capital and raised a $120m fund backed by European Investment Bank.
Robert Thomson, chief executive of News Corp, said: “The acquisition will serve as a catalyst for our brands, helping to extend our expertise in the digital and mobile video area.
“Unruly complements our traditional editorial and commercial expertise with contemporary insight into how people read, watch, buy and sell in the digital era.”