Azerion acquires Hybrid Theory, opening new footprint in the US and broader APAC market
Amsterdam, 18 November 2022 – Today, Azerion has announced the acquisition of Hybrid Theory, a data led
programmatic agency and trading desk specialising in mid and lower funnel campaigns. Their technology delivers a
hybrid approach that connects data intelligence with human nuance, understanding, and creativity, to power
smarter advertising across the full customer journey. Headquartered in London and with offices in six other
markets, this acquisition also opens a new footprint for Azerion in the US, and the broader APAC market.
Umut Akpinar, co-CEO of Azerion, comments: “I am pleased to announce the acquisition of Hybrid Theory by
Azerion. This acquisition will provide Azerion with enhanced skills and capabilities to manage advertiser campaign
performance. We are confident that Hybrid Theory’s market-leading data capabilities will provide Azerion with the
best-in-class technology to power better and smarter data-driven advertising potential to our advertisers and
publishers. As such, this acquisition is a perfect fit to our growing portfolio and we are excited to harness the power
of data and create tailored ads to give our audiences the best experience on our platform.
Patrick Johnson, CEO of Hybrid Theory, added: “Joining the Azerion Group allows us to continue to deliver on our
ambitions through far greater global scale and linkages between our technology and the Azerion platform. Hybrid
Theory’s unique capabilities in data now have the addition of proprietary first party data at scale, which coupled
with Azerion’s branding capabilities provide an unparalleled linkage with our performance heritage. At the same
time, Azerion’s culture is also a fantastic match of client-focused entrepreneurial thinking to deliver industry-leading
results. We are thrilled to be joining the Azerion team.”
Azerion will integrate Hybrid Theory’s custom-built technology offering of flexible solutions, hands-on support and
independent managed execution. Hybrid Theory’s immense strength in data will allow Azerion to build and target
unbelievably detailed audience segments, proving more effective for brands at acquiring new customers compared
to third party programmatic data sources. Through this acquisition, Azerion will strengthen its position in the UK,
US, and broader APAC market to deliver and work with our advertisers and publishers in flexible, collaborative,
hybrid ways, bridging the gap between in-housing and outsourcing for brands and agencies.
The aggregated consideration consists of an all-share transaction. In total, 1,381,625 treasury shares were
transferred to the selling shareholder. The transaction is effective as of 10 November 2022. Hybrid Theory
generated approximately £15.6 million gross revenue in 2021.
This latest news follows the announcements of various previous acquisitions, as Azerion continues to execute on its
growth strategy.
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