Buy-side ad management platform Innovid has announced it will acquire TVSquared, a measurement platform for linear, connected TV and addressable TV. The deal’s value is $160 million, including $100 million cash and the remainder in stock. The companies said that TVSquared had 2021 estimated revenue of $20-22 million, meaning the Innovid is paying about 8 times revenue. The deal is expected to close in Q2.

Innovid went public via a SPAC several months ago.

The deal marks another move in the evolution of traditional TV measurement from a Nielsen-only currency, and positions the merged company as a strong player in converged TV measurement which TVSquared specializes in. Because of the fragmentation in viewing across screens and devices, it has become increasingly difficult for advertisers to measure the true reach and effectiveness of their campaign spending.

Innovid’s CEO and co-founder Zvika Netter said the merged companies “aim to provide the most complete view of the total TV and digital universe through a scalable, currency-grade measurement platform.” The deal also gives Innovid more international reach, with Netter adding that “brands agencies, publishers and broadcasters on six continents rely on TVSquared to maximize reach, identify the right audiences and drive business growth with TV.”

At VideoNuze’s recent Connected TV Advertising PREVIEW: 2022 event, Innovid’s co-founder and CTO Tal Chalozin spoke about measurement during his fireside chat with Cadillac’s CMO Melissa Grady Dias and IAB’s Eric John.