Shares of DoubleVerify Holdings, a leading provider of digital media measurement and analytics software, dipped in Monday’s late trading session following the announcement of their agreement to acquire Scibids Technology SAS. Scibids is known for its AI-powered digital campaign optimization services catering to advertisers, agencies, and media buyers.
The cash and stock transaction, valued at $125 million, is expected to bolster DoubleVerify’s position as a product leader in real-time campaign optimizations.
Financial Performance and Outlook
DoubleVerify reported second-quarter earnings per share of seven cents, along with revenue of $133.7 million. This reflects a significant growth compared to the year-ago period when the company recorded EPS of six cents on revenue of $109.8 million.
Furthermore, DoubleVerify projects third-quarter revenue to fall within the range of $135 million to $141 million.
Expanding Digital Campaign Optimization Capabilities
With the acquisition of Scibids, DoubleVerify aims to expand its suite of offerings in real-time campaign optimizations. Scibids’ expertise and AI-powered technology are expected to enhance DoubleVerify’s ability to deliver impactful results to advertisers, agencies, and media buyers.
Maintaining their commitment to providing companies with reliable data, insights, and analytics, DoubleVerify continues to establish itself as a key player in the digital advertising industry.