Verve Group acquires Jun Group for $185 million

• The transaction will create a more balanced sales model for Verve Group, with 30% demand-side and 70% supply-side business

Swedish digital ad company Verve Group has acquired mobile-first advertising firm Jun Group for $185 million. 

This acquisition strengthens Verve Group's market position and financial goals as it can now utilise Jun Group's innovative mobile ad solutions into its operations from digital advertising to mobile-first strategies.

The transaction will create a more balanced sales model for Verve Group, with 30% demand-side and 70% supply-side business. Jun Group's diverse and growing client base will contribute to a 23% revenue increase, bringing Verve's total revenue to €447 million.

A worthwhile acquisition 

Dave Peacock, CEO of Jun Group parent company Advantage Solutions shared that the sale largely finalises the company's business portfolio transformation as it aims to focus “squarely on providing best-in-class services to our retailer and CPG clients.”

Meanwhile Verve's strong H1 2024 performance, coupled with this acquisition, has led to a revenue guidance increase to €380-400 million for 2024. The acquisition is expected to close in September pending regulatory approvals. 

Verve CEO Remco Westermann says, “Over the past few years, we have built Verve into a strong, organically growing media company with a primary focus on the advertising supply side. With Jun Group, we are now significantly strengthening the demand side, which will enable us to achieve significant synergies.