TA Associates Announces Investment in Flashtalking
BOSTON and LONDON, August 6, 2013 – TA Associates, a leading global growth private equity firm, today announced it has completed an investment in Flashtalking, a high-growth, international advertising technology company. Terms of the investment were not disclosed.
Flashtalking provides a software platform for intelligent ad serving – the creation and delivery of online advertising campaigns, including robust post-delivery analytics and reporting. Customers build, execute and track campaigns via an efficient self-service platform. The company offers products for desktop, tablet and mobile devices across multiple ad formats, including video, rich media and standard display. This is complemented by an industry-leading dynamic creative platform that is used to deliver real-time creative units using multiple data inputs and a flexible, rules based engine.
Flashtalking serves billions of ad impressions throughout Europe, the United States and other international markets. The company’s clients include a blue-chip roster of online advertisers and leading media buying and creative agencies. Flashtalking is headquartered in London, with additional European offices in Leeds and Cologne, and U.S. facilities in New York, Chicago, Los Angeles and San Francisco. The company was founded in 2001.
“Flashtalking has done an impressive job moving from a strong legacy of rich media serving into a broad, full ad serving platform with industry leading functionality across ad building, reporting and analytics,” said J. Morgan Seigler, a Principal at TA Associates (UK), LLP who will join the company’s Board of Directors. “The company is an attractive investment for a number of reasons, including excellent financial performance and a highly-attractive, diversified customer base that includes many of today’s leading online brands and agencies. We are excited to complete this investment and look forward to working with Flashtalking to continue its rapid growth.”
“TA Associates is an ideal partner for the next phase of our growth,” said Paul Cunningham, Founder and CEO, Flashtalking. “As our business has grown, we face new challenges and opportunities. TA has tremendous experience in helping to scale software and adtech companies and their global expertise will be a true asset as we seek to continue our U.S. expansion and potentially further internationalize our business.”
According to IDC, approximately 22 percent of advertising spend is allocated online, with the market valued at more than $60 billion worldwide. Online growth is expected to continue and will outpace the rate of the overall market. According to IAB, Europe’s online display advertising market was valued at €5 billion ($6.5 billion) in 2012, an increase of five percent from 2011. The U.S. market was valued at $8 billion in 2012, up 10 percent from the previous year. ThinkEquity estimates global advertising spend on rich media, such as interactive banner ads and videos, at $7 to $8 billion annually.
“Flashtalking has a unique platform that helps enable the online advertising nirvana of right ad, right place, right time,” said Jonathan W. Meeks, a Managing Director at TA Associates (UK), LLP who will also join the company’s Board of Directors. “As advertisers are increasingly focused on ROI, platforms that allow for dynamic ad creation are very well positioned to better target users with personalized advertisements and messaging. With its comprehensive portfolio of formats across online and mobile, particularly in video advertising rich media, we anticipate significant continued growth opportunities for Flashtalking.”
Travers Smith and Goodwin Procter provided legal counsel to TA Associates. Corporate finance advice was provided to TA Associates by Madison Alley Global Ventures. SGH Martineau served as legal counsel to Flashtalking.
Flashtalking is a leading international provider of digital advertising products, service and support for online advertisers and media buying and creative agencies. Its products lead the agency ad server market and facilitate the management, delivery and tracking of all forms of digital advertising across desktop, tablet and mobile devices. The company serves billions of ad impressions throughout Europe, the United States and other international markets. Headquartered in London, Flashtalking has offices in Chicago, Cologne, Leeds, Los Angeles, New York and San Francisco. For more information, please visit www.flashtalking.com.
About TA Associates
Founded in 1968, TA Associates is one of the largest and most experienced global middle-market growth private equity firms. The firm has invested in more than 430 companies around the world and has raised $18 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. More information about TA Associates can be found at www.ta.com.