Brandscreen, a leading DSP (demand side platform) in Asia Pacific, is seeking buyers after appointing Jirsch Sutherland as administrators for the ad tech startup.
Its Twitter account announced on Jan 13 that "Jirsch Sutherland now Voluntary Administrators of Brandscreen Pty Ltd. Details for business purchase enquiries", which links to its company website detailing expressions of interest to buy the media trading platform.
According to an official statement on its site, "assets for sale include all Intellectual Property, client information, receivables, computer and office equipment, and all other assets required to operate the business."
Brandscreen is classfied under "external administration", according to a filing with the Australian Securities and Investments Commission.
Sources familiar with the matter say the platform is operating normally and trading is uninterrupted.
The ad tech startup provides a campaign management platform that allows media agencies and advertisers to manage multiple advertising and data exchange accounts and bid for online ads in real-time.
Brandscreen has three offices in the region with its R&D in Sydney, headquarters in Singapore, and another office in Shanghai, China.
In October last year, Brandscreen hired Clement Tsang as managing director for Greater China. He was formerly the China head of Performics, a search marketing unit of ZenithOptimedia, and previously worked at DG Mediamind.
The programmatic media trading platform also made a number of high-profile hires last April.
It appointed Stuart Spiteri as president and chief revenue officer based in Singapore with other senior hires, former Yahoo and CBS execs, Tony Surtees as chief operating officer and Jo Gaines as chief revenue officer based in Sydney.
Spiteri assumed the role of chief executive in August 2013. He previously worked at News Limited as chief operating officer and prior to that as head of media platforms for Google Asia Pacific.
In late 2012, Brandscreen received $11 million in investment from Macquarie Capital, Southern Cross Venture Partners, and Singtel Innov8 in a Series B round.
It had aggressive expansion plans to set up offices in the region such as Tokyo, Seoul, and Delhi based on media reports.
The ad tech startup raised its first round of Series A funding in 2010 for $2.2 million.
Julian Tol, executive director, and chief technology officer Seth Yates, co-founded Brandscreen in 2006.
Tol was unavailable for comment at press time.
Correction: The orginal headline stated that Brandscreen to be taken over by creditors. However, emerging information on its Twitter and website have revealed that the ad tech startup is in administration and up for sale.
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March 19, 2014