In an announcement today by Extreme Reach, it disclosed the significant venture the company is undertaking with Spectrum Equity. Spectrum Equity's venture is estimated to be around US$50 million for a minority share with Extreme Reach.
The infused capital will be utilized for Extreme Reach's acquisitions that will result to its growth and expansion. Extreme Reach is the primary video platform for integrated online, television and mobile advertising.
According to John Roland, Extreme Reach Chairman and Chief Executive Officer, "The convergence of video advertising across multiple screens creates both challenges and opportunities for advertisers. Our platform is the industry's first to enable advertisers to execute and measure video campaigns across every screen. We are on an extraordinary growth path as we continue to expand the cross-media capabilities of our platform for our rapidly growing roster of advertising clients. We are very pleased to welcome Spectrum Equity as a partner as we take Extreme Reach to the next level."
At present Extreme Reach's ten North American offices employs two hundred twenty five people that is giving essential solutions on advertising to an approximate 3,000 clients including the world's biggest automotive and beverage brands. Its annual income in 2012 was twice compared to previous year and is on the way to go over an annual income of an estimated US$100 million by the end of 2013.
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