Verve acquires Jun Group to expand connected TV advertising

Jun Group, a mobile-first digital advertising technology business based in New York, was bought by Verve, a leading ad solutions suite for emerging channels, for a price of €170 million (about $185 million). Verve’s digital audio solutions, engaging ad forms, and artificial intelligence optimisation are all improved as a result of this acquisition. As a result, it is now much simpler for brands and agencies to have access to premium ad inventory and high-impact ad formats.

Jun Group, which is well-known for its intelligent advertising that prioritises privacy for brands, agencies, and publishers, has a history of establishing solid connections with Fortune 500 advertisers in North America that spans twenty years. A revenue of $80 million was earned by Jun Group in the year 2023, following the company’s acquisition by Advantage Solutions in the year 2018. Verve’s direct access to brands and agencies will be greatly increased as a result of this transaction.

The industry-leading scale of Verve’s mobile and connected TV (CTV) business, combined with Jun Group’s premium mobile inventory, highly engaging formats, and white-glove media services, will benefit brands and agencies alike. It is anticipated that the transaction will result in a more equitable sales model, with 30% demand-side business and 70% supply-side business, thereby increasing Verve’s size and profitability. This is anticipated to lead to a pro forma revenue increase of approximately 23% for the entire year of 2024.

Remco Westermann, CEO of Verve mentioned that in recent years, they have transformed Verve into a robust, organically expanding media company that focuses on the advertising supply side. Together with Jun Group, they are strengthening the demand side, which will help realize substantial synergies. Their mission of ‘Let’s improve media’ aims to enhance transparency and efficiency for their clients, including publishers and advertisers, by achieving a more equitable balance between supply and demand. This acquisition elevates Verve to the next level in terms of growth, profitability, and operational efficiency while simultaneously reducing leverage.

Verve was established to consolidate the most prominent advertising technologies and services into a single, comprehensive offering. The goal is to improve results for advertisers and publishers in emerging channels by leveraging responsible media. This commitment to responsible media is demonstrated through the ownership or access to high-quality, brand-safe media inventory, supported by years of privacy-by-design technology development.

Mishel Alon, CEO of Jun Group stated that he is thrilled that Verve and Jun Group are joining forces. This acquisition marks an exciting new chapter for both organizations. He stated that they are in a unique position to offer their clients unparalleled value by capitalising on their strengths. The synergy between Verve’s comprehensive supply-side platform and Jun Group’s demand-side capabilities will significantly bolster the advertising technology sector. 

As a result of Jun Group’s integration into Verve, the company acquires a highly experienced management team and approximately 90 dedicated professionals committed to ongoing development and success. Mishel Alon will remain as CEO of Jun Group, continuing to lead their team under the Verve umbrella, ensuring continuity and fostering a culture of innovation.