Talk about making some “headway” in becoming a digital advertising leader across the pan-Latin marketplace.
Entravision has grabbed a majority stake in a digital advertising company serving over 2,000 brands and agencies each month across the U.S. and Latin America.
The investment in Cisneros Interactive “deepens and enhances Entravision’s digital product offerings, while positioning the combined platforms to be one of the largest premier digital advertising companies serving the U.S. Hispanic and Latin American markets,” the company says.
Indeed, as Entravision in the last several years acquired Headway, making it a key programmatic advertising business unit that was highly profitable in 2018 but saw slowdowns in the last year due to economic challenges in markets such as Argentina, where the Peso has been severely devalued.
The growth in 2018 led Entravision to acquire Smadex, a mobile programmatic solutions provider and demand-side platform (DSP), and merge it into the Headway unit.
Cisneros gives Entravision less exposure in fiscally battered markets across Iberoamérica. It was founded in Miami a decade ago and today maintains sales partnerships with some of the world’s leading digital technology companies, including Facebook, Spotify and LinkedIn.
In addition, the company offers proprietary technology solutions as well as broad audience reach with its JustMob and Audio.Ad divisions, focusing on mobile video and digital audio respectively across 17 different countries. Cisneros Interactive will be joining forces with Entravision Digital, which provides comprehensive digital solutions including data, creative and programmatic platforms.
Entravision Chairman/CEO Walter Ulloa said, “The media space has quickly evolved to demand more performance-based, transparent and digital-focused solutions, and in order to best service our growing client base we continue to enhance our product portfolio and service offering. This investment aligns with our mission, given the breadth of Cisneros Interactive’s services, the quality of its global partnerships and the sophistication of its sales operations. I am confident our partnership with Cisneros Interactive is just the beginning of a long and productive relationship.”
Cisneros Interactive employees will remain with the company, with Victor Kong continuing as Chief Executive Officer, based out of Miami.