Corporate Development
Platform of Compounding Greatness
Infillion is building a composable advertising technology platform — one where every capability we build or acquire compounds in value across every business unit and customer type we serve.
11
Acquisitions
4
Platform Pillars
2
Business Units
Since
2016
THE THESIS

Products that work better together are worth dramatically more than products that work alone

A measurement capability does not just improve one campaign for one client — it improves every campaign, for every client, across every business unit that touches it. Identity data does not just enrich one audience segment — it enriches every product that references it. This is the difference between a point solution and a platform: point solutions grow linearly. Platforms compound.

Since 2016, we have completed 11 acquisitions. Every one of them was guided by the same question: does this improve the platform, and does it bring us deeper relationships with customers who need it?

We’re looking for the companies and customer relationships that help us compound the platform effect.

WHY WE ACQUIRE

Two Purposes. Every Opportunity Must Clearly Serve One. Or Both.

1.
To Improve the Platform

When we acquire technology, data, or IP, it improves the entire platform — not just one product or one business unit. Better bidding infrastructure makes every campaign more efficient. Better identity data makes every audience more accurate. Better measurement makes every client relationship more accountable.

Our platform is organized into four pillars — Demand, Supply, Data, and Creative. We are particularly attracted to technology that is modular by design, defensible through engineering depth or data advantage, and relevant to more than one customer type.

Identity Resolution
Audience Building
Measurement & Attribution
Bidding & Optimization
Clean Rooms
Creative Rendering
AI & Agent Infrastructure
Proprietary Data
2.
Go Get Deep Customer Relationships

We operate multiple Business Units, each organized around a specific customer type. When we acquire a business with deep customer relationships, those relationships either strengthen an existing Business Unit or become the foundation for a new one.

This is what Tidemark Capital calls “Follow the Workflow.”  Once you earn a customer’s trust through one product, you have an unfair right to expand. Our platform gives acquired teams an entire portfolio of adjacent capabilities day one.

Agency Relationships
Retail Media Networks
Managed Services
Vertical Expertise
Regional/International Sales
INFILLION TECH PLATFORM PILLARS

Each pillar constantly amplifies the
value of the others.

Demand

Demand

WHAT IT DOES

The execution layer — the infrastructure where advertising is actually transacted. Bidding, optimization, pacing, forecasting, audience targeting, campaign decisioning, and ad serving across every format and channel. This is our control point.

HOW IT COMPOUNDS

Every business unit depends on Demand infrastructure. An improvement to bidding logic improves campaign performance for every advertiser across the platform. As we build toward agent-compatible execution using MCP, the Demand pillar becomes the foundation for the next generation of media buying.

TECHNOLOGY WE'RE INTERESTED IN ACQUIRING

Bidding and optimization technology. Workflow automation. AI/ML for campaign optimization. Agent-compatible or API-first execution infrastructure. Ad serving across CTV, DOOH, audio.

 
Supply

Supply

WHAT IT DOES

Manages integrations and relationships connecting advertiser demand to media inventory. SSP integrations, direct publisher relationships, inventory quality management, supply path optimization, and the infrastructure ensuring bidders have the right inventory at the right price.

HOW IT COMPOUNDS

Supply is the raw material of every campaign. When we optimize a supply path, that improvement flows to every business units and every advertiser. For Media business units, exclusive publisher relationships power premium products like TrueX. For Enterprise business units, transparent supply access makes our infrastructure competitive.

TECHNOLOGY WE'RE INTERESTED IN ACQUIRING

Direct publisher relationships with exclusive inventory. SPO and curation technologies. PMP and programmatic guaranteed capabilities. Publisher-side tools that create stickier relationships.

Data

Data

WHAT IT DOES

Identity resolution, audience construction, measurement, attribution, and data interoperability. Manages proprietary data assets — first-party location data, CTV device graphs, survey-based audiences, engagement signals — and transforms them into private-label data products.

HOW IT COMPOUNDS

Data is the most natural compounding asset. Two data sets combined are dramatically more valuable than either alone — what Tidemark calls “Data Enriching Data.” As privacy regulation tightens and third-party signals deprecate, proprietary data compounds faster because it becomes scarcer and harder to replicate.

TECHNOLOGY WE'RE INTERESTED IN ACQUIRING

Identity resolution and deterministic matching. Measurement, attribution, incrementality. Clean rooms. Proprietary data — purchase data, location data, attention signals, health data. Privacy-compliant ingestion pipelines.

 

Creative

WHAT IT DOES

Develops technology that renders and delivers advertising experiences. Ad format development, interactive and engagement-based creative (the foundation of TrueX), dynamic creative optimization, video ad serving, and tools enabling the Media BU to bring new ad products to market.

HOW IT COMPOUNDS

Creative is where differentiation becomes visible. High-engagement formats — interactive video, shoppable units, attention-based experiences — command premium CPMs because they are difficult to replicate. As AI-driven creative generation matures, ML models analyzing performance feed back into templates generating higher-performing variants.

TECHNOLOGY WE'RE INTERESTED IN ACQUIRING

Differentiated ad formats — interactive, shoppable, CTV-native, DOOH. Creative rendering and optimization. Dynamic creative tools. AI-powered creative generation, testing, or personalization. Video ad serving infrastructure

HOW COMPOUNDING WORKS

The Real Power Is Not in Owning Multiple Products — It Is in How Those Products Make Each Other Better.

Data Enriching Data

When a partner brings proprietary purchase data into our platform, it enriches audience segments across each business unit. Our acquisition of Catalina — with UPC-level purchase data from 130M+ households — is the clearest example: combined with existing location, identity, engagement, and survey data, it creates a deterministic picture from ad exposure to store shelf.

The Flywheel

Our Enterprise business unit onboards partners who are data-and-supply-rich but infrastructure-poor. Demand from Infillion’s Media business unit monetizes those assets with advertisers. Revenue from Media validates Enterprise partnerships. Each side accelerates the other.

Compunding the Network Effect

An acquisition that strengthens one side creates value for the other. A new supply partner creates a new selling proposition for demand teams. A new measurement capability makes every data partnership and every campaign more accountable.

This is what separates a platform from a holding company. We are not accumulating businesses. We are building a system where each piece makes every other piece worth more.

What Happens After You Join

We have a codified operating model — what we call the MOS (Management Operating System) — that defines how we run the company, how we integrate acquisitions, and how we create value. It is not a set of aspirations. It is a documented system of strategies, taxonomy, charters, budgets, goals, and routing that every team operates within

Your team stays.
We acquire people, not just assets. Domain experts join the Platform Group. Customer experts join a Business Unit. We value the knowledge your team has built and give them a structured environment to do more with it.
Your technology gets distributed.
If we acquire a platform capability, it improves every product across every BU. If we acquire a customer-facing business, we bring our full component suite to your team — giving them products to sell that they did not have before.
Your customers see more value.
Because our platform is composable, we can add capabilities to the products your customers already use without forcing them into a different system. Better data, better creative, better measurement — delivered through the workflows they already know.
You get a clear home.
Before we close, we know exactly which Business Unit or Platform pillar will own the acquisition, who the internal sponsor is, and how the integration creates value. We do not figure this out afterward.
HOW WE EVALUATE

We Move Quickly Because Our Strategy Is Defined in Advance

If there is a clear fit, we move directly to structured discussions. We aim to give you an honest assessment of fit within days, not months.

1

Does It Improve the Platform?
Will this technology make existing products more valuable across multiple business units — or is it a single-use feature?

2

Does It Bring Customer Relationships?
Can this business’s relationships generate more revenue combined with our platform?

3

Composability Fit
Does the technology integrate modularly? APIs first, not monoliths.

4

Flywheel Impact
Does this accelerate the cycle between our Business Units?

5

Team Quality
Domain experts and customer experts who will thrive in a structured, composable environment.

6

Revenue & Margin Profile
Revenue scale, gross margin, customer concentration, contract portability.
SITUATIONAL FLEXIBILITY

We Are Comfortable With Complexity

We actively pursue acquisitions across a range of situations — from businesses performing well and looking for a platform to compound further, to situations where timing, capital markets, or structural dynamics have created urgency.

Corporate Carve-outs

Where a strong asset would perform better with focused ownership and platform leverage

Founder Transitions

Founders looking for a platform partner to take their business to the next stage

Market Consolidation

Competitors exiting, platforms shutting down, customer bases in motion

Investor Dynamics

Where investor dynamics have diverged from the underlying value of the product and team

Capital Constraints

Businesses constrained by capital structure rather than commercial viability

Restructuring

Valuable capabilities that deserve a durable home
We do not require perfect conditions. We require a clear path to compounding value.
TRANSACTION STRUCTURES

We Are Not Rigid About Structure. We Are Rigid About Fit.

We avoid transactions that introduce governance complexity, limit strategic flexibility, or slow our ability to operate.

Acquisitions

Asset purchases with clean liability boundaries
Carve-outs with TSAs
Stock transactions with defined timelines
Earn-outs tied to revenue or retention

Investments → Acquisition

Minority investments with call options
Structured instruments for liquidity
Revenue-share arrangements
Performance-based equity or warrants

Creative Structures

Partial asset acquisitions (team + IP, customer book)
Compressed-timeline negotiations
Structures around the seller’s circumstances
Let's Have Lunch

What You Can Expect

Confidential Engagement
Discretion matters, regardless of the situation.
Honest, Fast Assessment
We aim to tell you whether there is fit within days.
A Clear Integration Home
Before we close, we know which BU or pillar owns it and how it compounds.
Flexible Structuring
We design around the opportunity.
Direct Access to Decision-Makers
Corporate development is led by our Founder and Executive Chairman.
AUDIENCES

Who We Work With

Founders & Entrepreneurs

You built something valuable. We want to give it the platform to compound. Your team stays. Your technology reaches more customers. Your expertise matters more inside our system than it does outside of it

Corporate Development Teams

You have a strong asset that deserves focused ownership. We will invest in the business, retain the team, and integrate the technology into a platform where it creates more value than it can as a non-core division

M&A Advisors & Investment Bankers

We evaluate quickly, structure creatively, and close reliably. We understand compressed timelines and complex situations

Private Equity & Venture Capital

You need a strategic home where the technology and team will continue to grow. We are not a financial buyer looking for a flip — we are a platform looking for compounding capabilities and deep customer relationships

TRACK RECORD

11 Acquisitions Since 2016

The pattern is consistent: strong capabilities, underperforming their potential, that improve the entire platform once they join.
Click any row to expand details.
TrueX
2016 · from 21st Century Fox / Disney
Creative Supply
+

Founded Infillion’s Creative pillar. Interactive engagement ad formats and a premium publisher network became the core of our Media BU’s highest-CPM products. The creative technology, the publisher relationships, and the engineering team (including our current CTO) all came through this deal.

Drawbridge Managed Media
2018 · Corporate carve-out
Data
+

Cross-device identity graph and media buying team became the foundation of our Data pillar’s identity capabilities. When identity data met Gimbal’s location data, the combination powered targeting, attribution, and measurement that neither could deliver alone.

Fysical
2019 · Startup acquisition
Supply
+

Location data marketplace and privacy-compliant data ingestion. The founder, Ben Smith, now leads Infillion’s entire Data Products organization. A 3-person startup became the seed of a platform pillar.

InStadium
2020 · Asset acquisition
Supply Creative
+

The nation's largest live sports fan engagement platform — 425+ venues across MLB, NFL, NBA, NHL, NCAA. Transformed from a venue advertising network into a full-funnel sports marketing platform with excluesive inventory no competitor can access.

Phonic
2023 · Statup acquisition (Y Combinator)
Data Creative
+

AI-powered voice and video survey technology. A nice research tool became the engine behind real-time brand lift measurement across Infillion campaigns — a capability designed for one context that found exponentially more distribution inside the platform.

MediaMath
2023 · §363 bankruptcy acquisition
Demand
+

The industry's first DSP, built with $500M+ in prior investment. Bidding, optimization, and campaign execution infrastructure became the core of our Demand pillar. Now being rebuilt as the industry's first agent-native execution platform. The acquisiion that completed the four-pillar architecture.

Catalina
2026 · Largest acquisition in Infillion history
DataDemand
+

The world's largest source of deterministic purchase data. 130 million households, $600 billion in annual consumer spending, seventy major retail banners, eleven billion annual shopping trips. Four decades of purchase intelligence now inside a programmatic platform. Catalina's data powers closed-loop measurement, SKU-level incrementality, purchase-based audience targeting, and custom "Retailer Brain" bidding algorithms. The most significant platform improvement in Infillion's history.

Additional Acquisitions
2016 - present · Multiple transactions
Various
+

Additional acquisitions of technology, data, and talent ahve been integrated across the platform. Each followed the same logic: capabilities that improve the platform, and a platform that makes the capability more valuable than it was alone.

INDUSTRY CONTEXT

The Era of Point Solutions Is Ending

Advertising technology spent twenty years fragmenting into hundreds of point solutions. That era is ending.

Advertisers are exhausted by the complexity of stitching together disconnected stacks. Valuable tools go underused — not for lack of merit, but for lack of platform context. Meanwhile, the dominant platforms are under pressure: The Trade Desk is facing growth challenges, Microsoft is exiting its DSP entirely, Google is under antitrust scrutiny.

What comes next is not consolidation into bloated, monolithic suites. It is composable platforms where capabilities work better together while remaining modular and interoperable.

We are building the future of adtech. And we believe the best way to accelerate the compounding is through disciplined acquisition of the capabilities and customer relationships that make the platform stronger.

 
Submit an Opportunity
If you are exploring a sale, partnership, carve-out, investment, or strategic transaction involving advertising, data, or media infrastructure, we welcome confidential discussions.
PLEASE INCLUDE:
→ Brief company overview
→ What makes this business or capability distinctive
→ Transaction context (sale, carve-out, partnership, investment)
→ Why now
→ Revenue range and gross margin, if available
→ Any timing considerations
Infillion is building a platform and company of compounding greatness across media, data, and commerce. We welcome thoughtful introductions to acquisition opportunities that strengthen and extend this ecosystem.

Introductions that directly result in a completed transaction may be eligible for success-based compensation.

For strategic acquisition discussions, please contact our Corporate Development team at corpdev@infillion.com
Start a Confidential Conversation