Adobe Systems has acquired Auditude, a firm started by UCLA Anderson alumnus Nicholas Seet ('05). Sources familiar with the deal put the value of the acquisition at about $120 million. Seet says he is thrilled to have the validation this exit brings and to have Adobe as a partner going forward.
Adobe Systems has acquired privately owned Auditude in order to boost its video offerings with an advertising platform, the company said on Tuesday.
Video advertising is a booming market, according to data from market research company comScore.
Auditude streamed 344 million of the 6.8 billion online video ads that Americans watched in September, according to comScore. That made Auditude the seventh-largest source of such ads in the U.S., and the fifth-largest video advertising network. Tremor Video was the biggest network that month, with 811 million ads, and Hulu.com was the largest source overall, with over 1 billion. A year earlier, Hulu streamed 794 million of the 4.3 billion video ads viewed in the U.S.
Auditude offers an integrated advertising system for video on PCs, smartphones, tablets, connected TVs and other products in the home, according to the company website.
We did a story on Nik Seet in 2009 (and reposted it today).
Stay tuned for a UCLA Anderson interview with Nik in near future.