Daily News: June 22, 2017

PNC Supports Propel Media Acquisition of DeepIntent

Propel Media, a digital media and advertising company, acquired DeepIntent Technologies, an integrated data and programmatic buying platform. PNC served as administrative agent for an amendment to the company’s credit facility to support the transaction.

DeepIntent has developed a powerful data-driven approach to programmatic advertising that integrates into its data management platform traditional first-party data (such as client CRM data) and cookie-based third-party user data in order to build an enriched profile of a brand’s target audiences.

Marv Tseu, president of Propel Media, said, “We are excited to be joining forces with DeepIntent’s founders, Christopher Paquette and Mohamed Nouh and the entire DeepIntent team. We believe that DeepIntent is a very good fit with our current business and will augment what we do today as well as move us into new areas. This acquisition gives the Company the ability to supplement our current offerings with programmatic inventory to enhance our advertisers’ campaigns across all screens, including desktop, mobile, tablet and connected TV.”

According to a related 8-K filing, the company amended its credit facility of January 28, 2015 to support the transaction. The amendment changes some terms of the financing agreement to allow for the acquisition. PNC served as administrative agent for the transaction and HPS Investment Partners served as collateral agent. Both are lenders under the agreement.