SANTA MONICA, Calif., June 19, 2014 /PRNewswire/ -- Entravision Communications Corporation (NYSE: EVC), a diversified Spanish-language media company, today announced that it has acquired Pulpo Media, Inc, a leading provider of digital advertising services and solutions focused on Hispanics in the U.S. and Latin America. The transaction, which will be funded from Entravision's cash on hand, includes an initial payment of approximately $15 million and up to $3 million in contingent earn out payments based upon the achievement of certain performance benchmarks.
Pulpo Media is the first online advertising platform reaching online Hispanics across all acculturation levels and digital devices, with display, video, mobile and social media advertising. Its data driven platform employs world class proprietary technology and combines a top ranked media offering with hyper-relevant segmentation, personalized messaging, programmatic execution and in-depth analytics to drive brand engagement, direct response and campaign ROI among influential Hispanics. Pulpo Media is ranked by comScore Media Metrix® as #1 in Hispanic Reach based on its Hispanic Ad Focus (#1 with Spanish Dominant, Bilingual, and English dominant Hispanics, respectively). Pulpo Media is also ranked #1 in comScore's new Bicultural Audience Network category.
"The addition of Pulpo Media is a strategic and highly complementary acquisition that will further strengthen our existing digital businesses," said Walter F. Ulloa, Chairman and Chief Executive Officer of Entravision. "Pulpo has a leading digital advertising technology platform and a unique service offering that provides highly personalized access with best in class audience insights for advertisers, allowing them to more effectively engage Latino consumers. These additional capabilities broaden our diverse offering of omni-channel advertising solutions and are a significant enhancement to our big data analytics and modeling capabilities for the Latino market. I would like to welcome Pulpo's talented and experienced team of professionals to Entravision. With a strong and growing set of integrated multi-platform marketing solutions we are well positioned to connect advertisers with the expanding Latino consumer market."
"Entravision is a recognized leader in connecting marketers with Latino consumers across media channels, and we are excited to join this respected team," said Justin Kuykendall, President and Founder of Pulpo Media. "As online leaders with a singular focus on the Hispanic market and digital platforms, this opportunity complements our world-class online solutions by providing a comprehensive supplement of media and content to our services, which our advertisers seek. This is a tremendous opportunity for Pulpo and its clients, as Entravision's resources and reach allow us to continue to expand and enhance our solution set in both the United States and Latin America."
Pulpo Media is headquartered in Berkeley, CA. and has offices in Spain, Mexico and Argentina.
About Entravision Communications Corporation
Entravision Communications Corporation is a diversified Spanish-language media company utilizing a combination of television, radio and digital operations to reach Latino consumers across the United States, as well as the border markets of Mexico. Entravision is the largest affiliate group of both the top-ranked Univision television network and Univision's UniMas network, with television stations in 19 of the nation's top 50 Latino markets. The company also operates one of the nation's largest groups of primarily Spanish-language radio stations, consisting of 49 owned and operated radio stations. Additionally, Entravision has a variety of cross-platform digital content and sales offerings designed to capitalize on the company's leadership position within the Latino broadcasting community. Entravision shares of Class A Common Stock are traded on The New York Stock Exchange under the symbol: EVC.