EX.CO acquires video technology company Cedato
Content technology company EX.CO- The Experience Company (formerly Playbuzz) has announced the completion of its acquisition of Hod Hasharon-based video technology company Cedato.
“Following the acquisition, EX.CO will provide its publisher, brand and business partners with the most advanced AI-based content and advertising solutions on the market, including CTV and auction mechanisms. header, through the company’s easy-to-use platform. Additionally, this step further positions EX.CO as a resource for publishers tasked with meeting new performance standards for Google’s Vitals web pages, ”the announcement said.
Cedato was founded in 2015 by its CEO Ron Dick, a serial entrepreneur in mobile and cloud. The company employs twelve people, who will be transferred to EX.CO. Cedato did not receive any investment from venture capital funds. It was funded by private investors, and has now been sold for an estimated sum of less than $ 10 million.
EX.CO was founded in 2012 under the name Playbuzz by Shaul Olmert and Tom Pachys. Olmert was CEO of the company until the end of 2019, when he stepped down and was replaced by Pachys. After Olmert left, the company was renamed, changing its name and business focus.
EX.CO now helps online media and marketers create interactive viral content such as video clips and quizzes to make content accessible, connect with users, collect data or promote sales. The company employs 90 people in Israel and around the world. His clients include CBS, VICE, Huffington Post, Netflix, Audi, Lego and Tesco. The company records 26% revenue growth in 2020.
Pachys told “Globes” that the acquisition would allow EX.CO to expand its solutions offering to the publishers and brands it works with. “When it comes to AI, our solutions have been limited so far, and we’ve looked for companies that do these things. Cedato was the best we’ve found, and he has an amazing team. Cedato allows for the adaptation. video content in any format on mobile, TV and the Internet to achieve the best display quality, and they are also very effective in determining which ad to display to each user so that they have the ideal user experience.
EX.CO has raised $ 66 million to date, but in recent years it has been funded from its own revenues. “I’m not ruling out fundraising, but we don’t need to raise funds. We made this acquisition without raising funds, and we continue to grow, with the goal of reaching more than 100 employees. , without external funding, “says Pachys.
“This acquisition comes after a year of evolution and growth for EX.CO, during which we both launched and expanded our business offering, and expanded our partnerships with some of the most important media companies and most innovative in the world, ”said EX.CO Founder and CEO Tom Pachys. “I am very excited about Cedato’s technology and its ability to generate revenue across all platforms while maintaining a great user experience. It perfectly complements what we have built and will be a huge advantage for our partners and Cedato customers. “
“We are delighted to join forces with the EX.CO team,” said Dick. “Since the inception of the company, Cedato has focused on creating the most advanced video tools with a simple customer-centric approach. EX.CO has a similar vision, powerful technology and a large, loyal customer base. Working together enables us to offer cutting edge technology to our range of global partners, continuing to lead the way with product innovation that meets core market needs. “
Among EX.CO’s investors are The Walt Disney Company, Saban Ventures, Viola Group, 83North and firstime.
Posted by Globes, Israel business news – en.globes.co.il – on April 22, 2021
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