Partnership to Accelerate Global Product Expansion and Innovation in CTV
NEW YORK, March 29, 2021 /CNW/ — TripleLift, one of the largest advertising technology platforms in the world, announced today it has signed a definitive agreement to receive a majority investment from Vista Equity Partners. Vista, a leading global investment firm focused on enterprise software, data and technology-enabled businesses, will help drive further innovation across TripleLift and accelerate global growth.
“We have developed into a leader in the advertising technology space and are excited about our next chapter,” said Eric Berry, Co-Founder and CEO of TripleLift. “When looking for an investment partner, we placed a premium on a deep understanding of ad tech and a willingness to lean into developing our portfolio of innovative, high-growth products. Vista is that partner.”
Founded in 2012, TripleLift is driving the next generation of programmatic advertising by inventing new ad formats and building two-sided marketplaces that deliver monetization to publishers around the world. The company rose to prominence as the leader in Native programmatic advertising, expanded its offerings to display and video, and is now commercializing breakthrough products in Connected TV. TripleLift works with over 80% of the comScore 100 publishers, 100% of the Top 20 Demand Side Platforms (DSPs) and 100% of the AdAge Top 100 advertisers. Last year, TripleLift handled over 40 trillion ad transactions across desktop, mobile and connected television.
“TripleLift is a next generation ad tech company that has successfully identified and developed multiple new markets since its inception,” said Michael Fosnaugh, Co-Head of the Vista Flagship Fund and Senior Managing Director. “In each case, they have created unique value to an entire ecosystem of companies, including brands, publishers, and partners, and we are thrilled to be working with Eric and the team to further scale their business.”
“Vista is pleased to partner with TripleLift and we have a tremendous runway for growth,” said Rod Aliabadi, Managing Director at Vista Equity Partners. “We look forward to continued market leadership in programmatic, further catalyzing our opportunity in CTV and building upon our expansion into priority international markets across Europe and Asia.”
The transaction is expected to close in the second quarter of 2021. Eric Berry will remain as CEO and will continue serving on the Board of Directors. True Ventures and Edison Partners, two early investors in TripleLift, will remain invested in the company.
Centerview Partners LLC is serving as exclusive financial advisor to TripleLift, and Goodwin Procter LLP and Reitler Kailas and Rosenblatt LLC are serving as legal counsel. JP Morgan is serving as financial advisor to Vista, and Kirkland & Ellis LLP is serving as legal counsel.
TripleLift, one of the fastest-growing ad tech companies in the world, is a technology company rooted at the intersection of creative and media. Its mission is to make advertising better for everyone— content owners, advertisers and consumers—by reinventing ad placement one medium at a time. With direct inventory sources, diverse product lines, and creative designed for scale using Computer Vision technology, TripleLift is driving the next generation of programmatic advertising from desktop to television. As of January 2021, TripleLift has recorded five years of consecutive growth of greater than 70 percent. TripleLift is a Business Insider Hottest AdTech Company, Inc. Magazine 5000, Crain’s New York Fast 50, and Deloitte Technology Fast 500. Find more information about how TripleLift is shaping the future of advertising at triplelift.com.
About Vista Equity Partners
Vista is a leading global investment firm with more than $73 billion in assets under management as of September 30, 2020. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, credit, public equity and permanent capital strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn @Vista Equity Partners, and on Twitter @Vista_Equity.
IGM posts record profit in second quarter – Investment Executive
The firm also reported record-high investment fund sales of $1.9 billion for the quarter, more than doubling the $864-million total a year ago. Assets under management and advisement hit a new high of $262 billion, up 5.4% from the previous quarter and 39.2% from June 30, 2020.
“The result reflects record-high second-quarter client inflows across the companies and continued strong investment returns for our clients,” said IGM president and CEO James O’Sullivan in a statement.
The company’s wealth management business, which comprises IG Wealth Management and Investment Planning Counsel (IPC), reported a $134.3-million profit, up 33.6% from the previous year.
IG’s assets under advisement totalled $112.2 billion, up from $93.8 billion a year ago. IPC reported assets under advisement of $31.2 billion compared to $26.6 billion on June 30, 2020.
IG saw record client inflows of $670 million, compared to net outflows of $62 million a year ago.
Wealth management revenue for the quarter totalled $627.6 million, up from $531.1 million in 2020.
Asset manager Mackenzie Investments saw record investment fund sales of $1.7 billion for the quarter, up from $1.1 billion last year. Mutual fund sales accounted for $1.1 billion compared to $376 million in 2020.
Mackenzie reported mutual fund assets under management of $61.7 billion (up from $60.1 billion) and ETF assets totalling $4.9 billion (compared to $3.1 billion a year ago). If investments in ETFs by IGM mutual funds are included, ETF assets totalled $10.6 billion.
Asset management revenue for the quarter totalled $248.3 million, up from $190.8 million in 2020.
In an interview with Investment Executive last month, Mackenzie president and CEO Barry McInerney pegged alternatives and environmental, social and governance funds as growth areas for the firm.
He also talked about how Mackenzie is addressing the challenge of advisors shrinking their product shelves in response to the client-focused reforms.
Federal government launches investment blitz to mark first #EVWeekinCanada – Electric Autonomy
Cross-country investments focus on charging infrastructure, solutions for electric trucks, buses and residential buildings, and breaking down barriers to EV adoption
July was a significant month for government investment in cleantech and zero-emission transportation at the federal level. In all, four different program arms of Natural Resources Canada invested $32 million. The projects ranged from the installation of 853 electric vehicle chargers, to increasing public awareness of zero emission vehicles and improving progress to green transportation planning and infrastructure.
The announcements coincided with the Government of Canada’s declaration of #EVWeekinCanada, a coordinated effort at a policy level to bring awareness to the transition. Quebec, too, offered more government support with over $21 million invested in public charging initiatives through Hydro-Québec.
“EV Week in Canada is about promoting and highlighting the benefits of owning and driving Zero Emission Vehicles (ZEV) in Canada,” wrote a spokesperson from Transport Canada in response to emailed questions from Electric Autonomy Canada about the initiative. “Transportation is the second largest source of greenhouse gas (GHG) emissions in Canada, accounting for a quarter of Canada’s total emissions. Decarbonizing the transportation sector will be essential to meeting Canada’s climate change commitments.”
The funding and programming blitz is a key indicator that the government is gearing up to push adoption and policy in the second half of the year — possibly against the backdrop of a federal election where EVs, reducing emissions and renewable energy could play a pivotal role.
The menu of federal investments for July was wide-ranging:
- $4.95 million to Hydro One Ltd. in Ontario for heavy-duty electric truck charging station development.
- $2.5 million for the implementation of a smart charging platform for the Toronto Transit Commission’s electric bus fleet.
- $2 million to Opus One Solutions for a project to develop a shared economy model for EV chargers, focusing on residential EV charging impact on local power grids.
- $1.32 million to Alectra Inc. for the development of EV charging models for single-family and multi-unit residential buildings that provide affordable and easy access, while managing energy cost increases.
- $1.3 million for an enhanced SmartCharge Incentive system to Geotab Inc., with the goal of demonstrating price signals and optimal charge windows for owners of EVs.
- $635,000 to Blackstone Energy Services Inc. for a discharge energy system that encourages EV owners to send power back to the grid during peak demand periods. Blackstone are also to assist facility operators with offsetting their power use during such periods.
- $310,000 for Calgary and Edmonton to fund the installation of 44 EV chargers. The City of Calgary will partner with ENMAX Utilities and combine to contribute an additional $125,000 for the 20 chargers to be built at major light rail transit stations and recreational centres. Meanwhile, the City of Edmonton is collaborating with EPCOR Utilities to install 24 chargers at 13 different sites near busy recreational facilities.
- 170 EV chargers will be funded by $800,000 in British Columbia, which includes 168 Level 2 EV connectors and two fast chargers over the province. The chargers will be ready for use by the public come this winter.
- An additional $1.2 million will fund cities across the province to install 98 more EV chargers. 7-Eleven Inc. is one of the businesses that will benefit, as they plan to install six fast chargers at its stores in Vancouver, Langley, Abbotsford, Kamloops, Kelowna and Victoria.
- Finally, through a combination of federal and provincial funding, Quebec will see 215 new EV fast chargers installed by December 2022 due to a $9.4-million investment to Hydro-Québec, which is also contributing more than $10 million to the initiative. A related investment of over $3 million is also going to the utility to tackle barriers to EV adoption.
Minister of Natural Resources Seamus O’Regan Jr. said in the press release announcing the initiatives, “We’re giving Canadians the greener options they want to get to where they need to go. We’re building a coast-to-coast network of electric vehicle charging stations from St. John’s to Victoria. This is how we get to net zero by 2050.”
Investing in future challenges
One of the unique elements of the funding announcements is the commitment to heavy-duty electric truck charging. It’s one of the first major federal signals it is anticipating a swift transition with a need for significant infrastructure.
In Ontario, and like other utilities, Hydro One has a massive task ahead of it: charging large batteries that long-haul trucks need in order to become fully-electric. It will also have to account for the need to do so in a quick and efficient manner, while still managing the demand on the grid.
The federal investment of nearly $5 million will help fund charging solutions to yield greater carbon reductions in the commercial transport sector.
Hydro One senior vice-president, strategy and growth Jason Rakochy said of the electric truck charging station model, “We’re integrating sustainability practices into all aspects of our business as part of our vision for a better and brighter future by developing innovative solutions such as our electric heavy-duty vehicle pilot to help achieve net-zero emissions by 2050.”
Similarly, local grid demand will also have to be accounted for by Opus One Solutions as it investigates residential EV charging using $2 million in public funds.
Opus One’s mission is to build out smart grids in order to manage charging loads from public adoption of EVs. Using grid management software, the company is aiming to create harmony between grid battery storage, renewable energy and vehicle-to-grid draw-and-storage capabilities. Opus One emphasizes energy planning and off-peak charging to help balance the grid in an EV-centric future.
That’s where the investment in Geotab’s SmartCharge Incentive system — a program tied to Geotab Energy, launched in early 2021 — comes in.
Geotab Energy “arms utilities and electric vehicle owners with advanced electricity demand-management solutions” according to company materials. The mission is to determine how best to communicate off-peak price signals to EV drivers, whether it be through the property owner of the charging station, workplace or the homeowner.
While figuring out the times when both the price and demand on the grid are lower isn’t materially different from Time of Use (TOU) patterns that exist with current electricity plans, grid conditions do change. This makes communication “to bridge sustainable transportation with sustainable energy” all the more important, says the company.
Geotab Energy is primarily focussed on facilitating more efficient and fast communication between utilities and their customers and it has developed a SmartCharge Reward program to incentivize EV drivers to charge at beneficial times for the utilities.
Knocking down barriers
In order to tackle obstacles to EV adoption, the combined government investment in Hydro-Québec will allow the public utility to test ultra-fast new-generation charging stations. The goal is to assess technologies from different manufacturers under real-world conditions. Critical information will be collected and the utility will learn more about the strength of the power grid’s infrastructure.
“[W]e deployed our 500th rapid-charging station, and we are moving toward more than 2,500 rapid-charging stations by 2030 so that electric vehicle drivers can travel with peace of mind throughout Quebec,” said France Lampron, director of transportation electrification at Hydro-Québec in a press release.
So far and in total, Canada has invested over $1 billion in EV incentives and infrastructure as the country pushes toward 100 per cent new EV sales by 2035.
Sooke poet publishes narrative poems – an investment in life's third chapter – Vancouver Island Free Daily – vancouverislandfreedaily.com
It started with a bookmark from the Sooke Writer’s Collective at the local library.
“Interested in being part of a writing group?” it asked. Clare Winstanley was, so she called the number on the bookmark and has been a member ever since.
Winstanley has written poetry her whole life, but only since joining the group did she share them. Mid-pandemic, the poets of the collective decided to self-publish a chapbook. Winstanley contributed poetry and illustrations and enjoyed the whole thing so much she decided to do a solo project.
Bits of String and Thread: a tapestry of poemsis a collection of 17 narrative poems, drawings and photographs the semi-retired tutor self-published this summer.
As writing has taken centre stage in her life – she’s working on a novel right now – Winstanley wants to tell other adults to revisit the hobbies of their youth.
“As we mature, and perhaps finished taking care of families, perhaps a money-earning career becomes less central, we can invest in the second or third chapters of our lives and pick up things we had given up,” she said.
“It’s time to go back now and complete the things you started when you were younger.”
She said that her poems are layered with history, often going back in time, and they’re best read aloud.
“My aim as a poet is to create an effect with the sound of the words.”
Winstanley will read a selection of her poetry on Aug. 27 at 6 p.m. at the Sooke Arts Council Gallery at the corner of Church and Sooke roads. It’s a free event and can accommodate up to 25 people. The book is available for $15 at the gallery or through her website cemwinstanley.com .
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