Entravision's acquisition of the African-based advertising venture 365 Digital, announced late last week, is only the latest Entravision expansion and it already yielding positive results, the company's CEO said in a recent news release.
The acquisition is part of "our continued global expansion," Entravision Chairman and CEO Walter Ulloa said in a Nov. 5 news release posted to Business Wire.
"365 Digital's strong management team will fit seamlessly into Entravision's growing digital business, and we look forward to leveraging their regional expertise and existing big tech representations to scale Entravision’s digital platform across Africa," Ulloa said. "This acquisition fully aligns with our vision to position Entravision as a global digital marketing solutions powerhouse, serving brands and local leaders with advanced branding, performance and programmatic needs."
Entravision's third-quarter earnings show the results of the company's ongoing expansion.
"We've strategically expanded our geographic footprint into some of the fastest growing marketplaces across the globe and, as reported today in our third quarter 2021 earnings press release, digital revenue increased nearly 10 times more than the prior-year period," Ulloa said.
The acquisition is part of Entravision's ongoing expansion into emerging markets. The Santa Monica, California-based company also recently acquired Cisneros Interactive.
365 Digital, a digital advertising solutions company, is based in Sub-Saharan Africa, where almost half a billion digitally connected consumers have been recorded.
365 Digital CEO Julian Jordaan referred to the acquisition as "a major milestone for our company."
"We see tremendous synergies between our two companies not just in traditional digital advertising, but also in digital audio, mobile and programmatic advertising," Jordaan said in the press release. "I am confident that with Entravision's expertise, guidance and global platform, we will be able to take our company to the next level and attract an even stronger demand for our innovative services."