The acquisition expands Madhive’s focus from CTV to other channels to maximize reach and drive outcomes with local audiences and allow advertisers to streamline omnichannel planning, data and audience targeting, campaign execution and creative tools.
New York, NY (June 11, 2024) — Madhive, the leading technology company for local Connected Television advertising (“CTV”), today announced a definitive agreement to acquire Frequence Inc, the premier omnichannel ad sales enablement and workflow software for local media companies and agencies. This strategic acquisition unites two innovators in local digital advertising, creating a scaled and streamlined platform for national, regional, and local advertisers to deliver precise, geo-targeted messages across streaming TV, search, online video, display, audio, out-of-home, and social.
Madhive, known for its outcome-driven local CTV and premium digital video and proprietary data and platform solutions, powers hundreds of millions in media spend for major media companies like Fox, Tegna, Scripps, Katz, and agencies like Lifebrands. Its full-stack CTV platform includes an in-house bidder, device graph, and real-time optimization engine, managing 20,000+ daily campaigns across 210 DMAs.
Frequence’s workflow software and media services enable local media companies like Spectrum Reach, Hearst and Beasley to sell, manage and execute omni-channel digital marketing campaigns for their local advertising customers. Through its end-to-end, highly configurable solution, Frequence seamlessly integrates with owned & operated media and automates key ad operations and workflows, driving sales efficiency and revenue growth for their clients.
The combined company will offer a client first, streamlined and integrated platform featuring end-to-end planning, creative production, activation, measurement. Frequence's planning capabilities will seamlessly integrate with Madhive's platform, automating campaign workflows across proposals, reporting, and analytics. Together, Madhive and Frequence will serve the majority of the local media market, with over 30,000 advertisers running campaigns with the technology every day.
As a result of this announcement, Madhive’s enterprise clients will have access to new channels beyond CTV and digital video including display, OOH, audio and more. Frequence customers will benefit from Madhive’s best-in-class CTV capabilities, driving stronger performance for advertisers in their largest and fastest-growing channel.
The offering will also open up new opportunities for independent agencies and media holding companies, providing a unified platform to reach niche, local audiences at national scale. The cross-channel capabilities will enable buyers to take a full-funnel approach, optimizing for reach and frequency while driving outcomes such as website visitation, purchases, foot traffic and more.
Executive Commentary:
Spencer Potts, CEO at Madhive: “Madhive has always focused on empowering local media markets by building best-in-class technology to power local digital campaigns at every scale - from national reach to zip code precision. Frequence built a complimentary platform that focuses on streamlining planning and execution of local campaigns across channels. This acquisition combines two like-minded companies, marking the next step in Madhive’s journey to become the digital hub for the entire small and medium business (SMB) market. While CTV will always be at our core, our vision is to provide best-in-class omnichannel solutions that deliver results across the entire sales funnel.”
Tom Cheli, CEO at Frequence: “We are thrilled to announce that Frequence has been acquired by Madhive, marking an exciting milestone in our journey. With this acquisition, we envision transformative opportunities for our customers and their advertisers. Over the past fourteen years, Frequence developed the leading omnichannel advertising sales platform through relentless innovation and the integration of cutting-edge technology. Now, together with Madhive, we are surging forward by uniting our unique strengths to establish the leading digital advertising hub for local media companies.”
This acquisition follows Madhive’s recent $300 million investment from Private Equity at Goldman Sachs Alternatives to fuel growth and expansion into new channels beyond the local CTV space.
Moelis & Company LLC is acting as exclusive financial advisor and Wilson Sonsini Goodrich
Rosati is providing legal counsel to Frequence. Latham and Watkins is acting as legal counsel to Madhive.
About Madhive
Madhive is the leading technology company engineered for modern TV advertising. Through its self-service platform, Madhive modernizes legacy systems, enabling advertisers to seamlessly automate the ad buying process into one operating system. This allows advertisers to plan, target, activate, and measure their campaigns with greater simplicity, accountability, reach, and control. Powered by an industry-leading bidder and device graph that processes billions of available ad opportunities per day, Madhive delivers precise, brand-safe audience connections efficiently at scale. The company is trusted by the leading local content owners, creators, and distributors as well as national agencies and brands, powering millions of dollars in media across 20,000+ daily campaigns. To learn more, visit madhive.com.
About Frequence
Frequence is the Future of Media - the only end-to-end platform for media companies and agencies to grow and automate their advertising sales and operations while integrating owned and operated media. Through its full-stack proposal, workflow and campaign-management software, Frequence drives revenue with best-in-class tools to sell, optimize and report omnichannel advertising campaigns. To learn more, please visit www.frequence.com.
