Cross-device advertising firm Engage:BDR has announced the acquisition of Mydiveo, a global talent discovery platform and creative social network that aims to cultivate discovery and collaboration among artists through mobile portfolios.
The acquisition, which cost Engage:BDR $7.4m (£5.6m), is the first among a series of 12 that the company plans to make between now and mid-2017, and strengthens the firm's offering for brands and agencies.
Clients will now be able to directly access Mydiveo's premium, highly-engaging ad inventory, extending their reach to a valuable, creative audience of music artists and their loyal fans.
The acquisition also accelerates Engage:BDR's entry into the smart TV space, as the integrated team from both companies works together to build its first smart TV app.
Mydiveo launched in 2015 and raised $4m in private funding, growing quickly to fill a special void in the marketplace by enabling millions of musicians, artists and other creative workers to come together, connect and collaborate.
"Mydiveo's intelligent leadership, unique social platform offering and rapid growth have been impressive," said Ted Dhanik, founder and CEO of Engage: BDR. "We are excited to offer owned and operated access to the Mydiveo brand, as well as contribute the resources needed to ensure its users enjoy the richest experience possible as the network scales and morphs to their needs."
"It is tremendously exciting to become a part of the power cross-device media platform Engage:BDR has built," said Roslynn Cobarrubias, chief marketing officer of Mydiveo. "There is a true synergy between both companies and we all share a belief that this acquisition will benefit music lovers, tastemakers and artists seeking connections, opportunities and memorable experiences with the brands vying for their attention, engagement and loyalty."
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