Montgomery, AL, US-based tv broadcaster Raycom Media acquired PureCars, a digital advertising platform for the automotive industry, for $125M.
The amount of the deal was not disclosed.
The combination of the two companies will allow the creation of a platform that unifies traditional and digital advertising across television, desktop, tablet and mobile.
Led by CEO and founder Jeremy Anspach and COO Sam Mylrea, PureCars is a large digital advertising platform for the automotive industry used by thousands of dealers, dealer groups, local marketing associations and agencies across the country. Following the acquisition, PureCars and its over 150 employees will operate as a separate unit within Raycom Media and maintain its development campus in Atlanta and offices in Charleston, S.C. and Milwaukee.
Led by President and CEO Paul McTear, Raycom Media is one of the nation’s largest privately-held Broadcaster operating 51 television stations in 38 markets across 19 states. In addition to television stations, the company owns Raycom Sports (a marketing, production and events management and distribution company), Tupelo-Honey Productions (a NY-based production company), RTM Productions (a Franklin, TN-based automotive programming production and marketing solutions company), WebStream Sports (an Indianapolis-based, live event production company) and Broadview Media (a post-production/digital signage company based in Montgomery, AL).
FinSMEs
29/10/2015
Updated on 05/11/2015