Montreal-based AdGear acquired by Samsung Electronics

Montreal-based AdGear, a digital advertising tech company, has been acquired by Samsung Electronics.

“AdGear will operate as an independent, wholly owned subsidiary of Samsung Electronics Canada Inc. This acquisition was spearheaded by the Samsung Global Innovation Center and will support the extension of Samsung’s Smart TV services,” Samsung said in a statement sent to AdExchanger.

AdGear also has an office in Toronto, and its platform offers advanced advertising analytics, attribution measurement, ad serving, real-time bidding, and exchange technology to its customers.

On its website, AdGear published a “heartfelt thanks” to its employees and clients. “Joining Samsung will allow us to leverage our platform to fuel further innovation in advertising. We are extremely excited about the future and the opportunities this partnership offers to our product and our team,” the company said.

According to a report from the Wall Street Journal, Samsung is pursuing advertising as a source of revenue as it struggles in the TV business.

Jessica Galang

Jessica Galang

Jessica Galang is BetaKit's News Editor. Follow her on Twitter @jessicagalangg or send her pitches to jessica.galang@betakit.com.