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Talent Partners Acquired by Ad Delivery Specialist Extreme Reach

Ad delivery firm Extreme Reach has agreed to buy production services specialist Talent Partners for an undisclosed price from the Carlyle Group and other minority shareholders.

In its announcement Monday, Extreme Reach vowed to improve the processes covering work by actors in the arena of digital video ads.

Talent Partners is a key player in the advertising business. In 2014, it worked for more than 750 agencies and production company clients worldwide, representing more than 1,500 brands, and made payments to more than 75,000 actors and other commercial talent totaling more than $1 billion in transactions.

Its services to advertisers and agencies include management of talent contracts and payment and the handling of rights and royalties for commercials across TV and digital video advertising. Talent Partners operates offices in five markets across North America and the United Kingdom, with over 250 employees and $60 million in 2014 revenue.

Under the deal, the Talent Partners offices and employees will be immediately integrated into Extreme Reach, giving it more than 1,000 employees. The Carlyle Equity Opportunity Fund will retain an ownership position in the combined company.

Extreme Reach noted that digital video is one of the fastest growing advertising formats with audiences having become more fragmented — leading to talent and rights processes breaking down with resulting inefficiencies and significant unexpected costs.

“In the digital video advertising realm, more than a third of all ads do not follow legal contracts for talent and rights,” said Tim Hale, chief talent officer at Extreme Reach. “This could lead to millions of dollars in unexpected costs across the industry. By acquiring Talent Partners, we have a unique opportunity to move the industry forward. Our leading talent and rights solution is fully integrated with our TV and digital video advertising platform, and each step in the advertising process is seamlessly connected to the next.”

The acquisition was financed by a combination of equity and debt financing.

SAG-AFTRA’s master contract with the ad industry will expire on March 31.

Rockdale Partners acted as the exclusive financial adviser and the firm of Pierce Atwood acted as legal adviser to Extreme Reach in the transaction. The firm of Goodwin Procter acted as legal adviser to Talent Partners. JPMorgan and SunTrust Robinson Humphrey acted as joint lead arrangers for the debt facility.

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