Business

VEON Ltd. (NASDAQ: VEON) Formulates AdTech Acquirement in Russia

VEON Ltd. (NASDAQ: VEON), a foremost global supplier of connectivity and internet services, recently announced that it purchased a preponderance ante in OTM, a knowledge platform for the mechanization and preparation of online advertising acquisitions in Russia.

VEON’s speculation in OTM will considerably reinforce Beeline’s location in the AdTech marketplace and allow VEON to enlarge OTM’s process into other market provided by VEON’s mobile operatives. The attainment builds on VEON’s continuing alteration into a digital operative.

OTM is one of the largest autonomous AdTech troupe in Russia, both in stipulations of income and in the quantity of online ad inventory run by its platforms. Since its beginning in 2010, the OTM platform has befallen one of the main players in the Russian AdTech marketplace, partnering with almost all main ad agencies and offering a full stack of award-winning programmatic goods. As part of the VEON Group, OTM will stay a detached operating company run by its current management side, playing a significant position in growing VEON’s AdTech dealing.

“AdTech is an imperative area of enlargement in all online communities, and is significant to the prospect of mobile services,” states Kaan Terzioglu, VEON’s Chief Executive Officer. “This contract will boost AdTech services offered by Beeline Russia, as well as providing a platform for VEON’s extension into this fast-growing marketplace through our other digital operator. The digital publicity market in Russia is forecasted to raise from $4 billion to $6 billion in five years and VEON plans to be part of this marketplace growth.”

George Held, Executive Vice President for Digital and New Business Development, Beeline Russia, said, “Providing AdTech services is a planned center for VEON, where its use next to Big Data and AI know-how can make a major input to the growth of the market and offer sole yield for ad agencies and advertisers. The gaining of the bulk stake in OTM, a major performer in the AdTech market, offers VEON with the competencies of a greatly knowledgeable team, as well as strong relations with ad agencies and advertisers. The timing of this attainment is vital as the entire business is moving into a situation where cookies are not used and pooled efforts of mobile operatives and AdTech companies will push businesses to new horizon.”

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