Progress Partners Advises on Sale of Receptiv to Verve
Receptiv is the leading in-app mobile video advertising platform
BOSTON, MA – June 6, 2018 – Progress Partners, a Boston- and New York-based M&A advisory firm, is pleased to announce that it has advised on the sale of Receptiv, a leading in-app mobile video ad platform to Verve, a leader in location powered mobile marketing.
The deal unites Verve’s location-based mobile in-app publisher solutions with Receptiv’s 100% viewable, non-intrusive mobile video experiences designed to engage audiences in context of utility or need. Verve has independently developed its offerings for retail, auto, CPG, and brick and mortar advertisers, aiming to capture audiences at direct high value impressionable moments. The two companies together boast a total SDK footprint of more than 5,500 leading apps, giving significant scale and reach for in-app advertisers across lifestyle, fitness, entertainment, photo, messaging, gaming, and utility categories.
Receptiv adds a layer of data infrastructure for the combined entities to leverage in a changing competitive landscape where owning persistent understanding of audiences becomes increasingly important. The total view of the consumer, combined with a ‘human-centric’ experience, puts Verve and Receptiv at the forefront of non-intrusive ad experiences designed for the next gen marketer.
Receptiv’s ability to create engaging video experiences combine with Verve’s expertise in rich media and display, will continue to innovate how in-app monetization evolves so as to bring a larger share of demand from leading brands into the medium.
Progress Partners acted as exclusive advisor to Receptiv and its shareholders in the transaction, with Senior Managing Director Nick MacShane reflecting that the firm continues to see the rising importance of nuance and specificity in approach towards mobile data, intelligence, and activation.
“We are pleased for Receptiv and the entire team as they begin a new journey with Verve. The combination of these two well-aligned emerging companies will in all likelihood yield a formidable set of product offerings that will bring attention from the market in the near term.”
To learn more, please read Verve’s press release here.
Receptiv is committed to putting human experience at the center of digital advertising, acknowledging that brands want to create experiences with people, not impressions. They evaluate the real impact that emotional moments have on users, the new rules of engagement that come with advertising on the most personal device, and the value that brands can deliver to that experience. They fix problems by creating a healthy relationship built on trust with their clients. www.receptiv.com
Verve has created a dynamic location mobile marketing platform that helps advertisers, large and small, utilize the power of connecting with consumers on their devices in real time. Verve values the potential of mobile and its unique ability to reach people no matter where they choose to go. The company’s mobile experts build solutions that help advertisers better connect to people and do so with consumer engagement as a guiding principle. Harnessing the power of location-context mobile data, Verve believes that mobile advertising is more than a message; it is an experience that connects consumers with the brands, publishers, and moments they value. www.verve.com
About Progress Partners
Progress Partners is a Boston and New York-based M&A advisory firm working with emerging technology companies within media, marketing, advertising sectors, serving SMB through Enterprise. Progress Partners works with buyers and sellers of high growth companies to complete M&A transactions, raise debt or equity capital, as well as, develop and implement strategic growth plans. The firm's high standards of excellence, deep industry experience, extensive network, and entrepreneurial background give Progress Partners the ability to build and realize superior value for its clients. Securities offered by Applied Capital, LLC, member of FINRA and SIPC. For more information, please visit www.progresspartners.com