Mergers and Acquistions News
Categories: Media & Information Services
September 26th 2011, 16:29PM
Donovan Data Systems (DDS) and MediaBank have agreed on a merger that will see their companies reformed as MediaOcean.
The companies value their joint worth at $1.5 billion (£966 million) and will process $150 billion of global advertising revenue annually, the Wall Street Journal reports, citing experts.
Both firms provide software that allows advertising agencies to book and manage commercial space hosted by media platforms.
MediaBank chief executive officer Bill Wise, who will now hold the same position at MediaOcean, claimed his enterprise was worried about Google overtaking its core businesses.
"Why fight each other when there is a much bigger battle to fight," he told the newspaper.
Executives from the companies believe the merger will allow them to rival Google with an open and standardised system.
"This ecosystem can compete with Google head on," said president of DDS Digital JT Batson, who will take on a similar role at MediaOcean.
Google chief Eric Schmidt announced that the company was looking for more display ad acquisitions in June this year. 
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