Vista Equity Partners To Acquire Majority Stake In Mediaocean
June 30, 2015 at 6:52 AM (PT)
VISTA EQUITY PARTNERS is acquiring a majority stake in advertising platform software company MEDIAOCEAN. The deal, with terms undisclosed, is expected to close in third quarter 2015.
"VISTA's investment is the next great milestone for MEDIAOCEAN and presents a significant opportunity to continue to build on our success, and truly advance the marketplace forward," said MEDIAOCEAN CEO BILL WISE. "Our vision has always been to provide advertisers, agencies, broadcasters and publishers with a top-tier, converged advertising ecosystem. Partnering with VISTA will allow us to accelerate progress in achieving this goal, while solidifying our leadership in the industry."
"Four years ago we created MEDIAOCEAN with the goal of providing the industry with an open platform to easily integrate campaigns across all traditional and digital media. I am truly proud of our growth and progress to date and believe that working together with VISTA will allow us to continue to build on this success," said MEDIAOCEAN Chairman MICHAEL DONOVAN, who will remain as a board member and will retain the remaining equity in MEDIAOCEAN. "When VISTA approached us, we were impressed by its strategic vision. They operate more like an enterprise software holding company than a classic private equity firm with nearly 200 employees -- most of whom are operators, not finance professionals."
VISTA Chairman/CEO ROBERT F. SMITH added, "MICHAEL and BILL's combined vision and know-how have built a mission-critical and integrated platform that makes MEDIAOCEAN the best-in-industry partner for their customers to stay competitive. Together we can strengthen and expand MEDIAOCEAN's existing solutions while pursuing exciting new growth opportunities in a dynamic and ever-evolving industry."
VISTA Co-Founder/President BRIAN SHETH said, "We are thrilled that an industry pioneer and visionary like MICHAEL DONOVAN will continue to play such a valuable role at MEDIAOCEAN, and that in BILL WISE we are able to partner with a successful CEO with extensive leadership experience."