Local company eBUS, which offers a cloud-based TV ad delivery system and works with a number of agencies and media owners in New Zealand, is the latest in a string to be bought up by an overseas firm.
A finalist in the 2011 Innovators Awards—and backed by incubator The Icehouse and local investment firms Movac and Sparkbox Ventures—eBUS has been acquired by London-based B2B media logistics operator IMD, which specialises in video advertising. Details of the deal are confidential.
IMD acquired the network to create a substantial worldwide footprint for digital TV ad delivery, with a local presence across major countries in Europe and Asia-Pacific and a regional HQ in Singapore.
IMD will strengthen its digital TV ad delivery service in Asia-Pacific, where eBUS has established a solid reputation as the most reliable and fastest service in the region with the widest geographical offering (its system allows TV ads to be delivered in less than 10 minutes, and it also features native HD support, 24/7 access and automatic quality control).
eBUS already has full coverage of Singapore, Australia, New Zealand and India and is rapidly expanding in other territories in the region. And IMD hopes to grow this even faster.
"eBUS fits amazingly well with IMD in so many ways; it's territorially complementary, it's very focused on TV ad delivery, just like IMD, and we have the same cultural and customer service values. On top of that, eBUS has a brilliant technology platform created by an exceptionally talented team."
A critical factor in the acquisition has been the strong management team at eBUS, led by chief executive Carmine Masiello who has 20 years of experience in the IT and media industries (eBUS started operation in 2005 in New Zealand when Masiello settled in the country. The success of the ad delivery solution was always in the Asian markets, and Masiello now resides in Singapore).
"IMD's investment in eBUS will speed up our expansion in the Asia Pacific region," she says. "We look forward to being supported by a shareholder that combines financial strength with an intimate understanding of what we do and who we are."