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Beeline Buys a 67% Stake of the Ads Platform OTM for $16 Million

September 3, 2021, 16:20 (UTC+3)|

Russian telecom operator Beeline has purchased 67% of the advertising and technological platform OTM, according to information from Veon (Beeline's head company). The deal was valued at $16 million, making the entire company's valuation around $24 million.

The operator will use OTM to collect large amounts of customer data through the tools of the advertising platform. In particular, OTM allows carrying out programmatic purchases of advertising on mobile devices and stationary computers. To target ads, the platform uses big data tools collected from various sources.

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In March, it was reported that Beeline was planning to buy more than 51% of the platform. In June, the operator bought the platform, but then the company did not disclose the share and amount of the transaction.

Original (in Russian)



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