Customer Experience, Service & Success

Sizmek bailed out in $36m sale deal with Zeta Global

Sizmek bailed out in $36m sale deal with Zeta Global

US marketing technology company Zeta Global is set to purchase Sizmek’s technology in a US$36 million deal, following news of the buy-side advertising platform filing for voluntary bankruptcy.

The deal, outlined in court papers, includes the sale of Sizmek’s data management and demand-side platform to Zeta for up to US$36 million (AU$50 million).

Sizmek originally bought the DMP Rocket Fuel in 2017 for $145 million.

Last month, Sizmek revealed it initiated proceedings under Chapter 11 of the US Bankruptcy Code to “preserve value and seek access to capital” while it considered its options.

According to the company, Chapter 11 processes allows it to continue operating as normal, telling AdNews it’s “open for business”.

The agreement with Zeta, which still needs to be approved by bankruptcy courts, would mean 200 Sizmek employees will be consolidated into Zeta Globals’ offices in New York, Silicon Valley and the UK.

Zeta, a New York-based company which opened in 2007, has offices in the US, UK, India and Prague. A hearing on the acquisition has been scheduled for 29 April.

Sizmek says it’s also continuing to “identify and negotiate with potential buyers for Sizmek’s assets”.

“It’s business as usual for Sizmek globally and locally with customers continuing to purchase ad space, execute campaigns and measure performance,” a Sizmek spokesperson says.

AdNews has approached Sizmek and Zeta Global for more information on what impact the sale will have locally.

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