Brand Engagement Network acquires Munich media company Cataneo for $19.5M

Munich media company  Cataneo is being acquired by  Brand Engagement Network (BEN), a developer of conversational AI solutions for businesses and consumers, in a $19.5 million cash and stock transaction.

Cataneo,offers an all-in-one solution for ad sales, inventory management, and campaign optimisation. It helps broadcast and entertainment companies streamline operations, increase revenue, and enhance audience engagement. 

Cataneo's Mydas platform is an air-time sales management and ad traffic system that manages over €5 billion in annual media spending. The platform supports over 5,000 users and over 1,000 media brands across four continents.

At the heart of BEN's offerings are AI-powered digital assistants and lifelike avatars, providing more personal and engaging experiences through browsers, mobile applications, and even life-size kiosks. These safe, intelligent, and inherently scalable AI solutions empower businesses to efficiently serve customers using validated data delivered through SaaS, Private Cloud, and On-Premises technology. 

By integrating BEN's advanced Generative AI, Cataneo is poised to strengthen its offerings and deliver greater value to its brands and customers.

"We believe the combination of BEN's safe, intelligent, and scalable Generative AI platform, with Cataneo's Mydas tools, can transform how brands engage with their customers," said Paul Chang, Chief Executive Officer of BEN. 

"This acquisition marks a significant step towards the future of interactive advertising, where consumers are not just marketed to, but actively engaged with, leading to more meaningful and enhanced online experiences."

Cataneo's Chief Executive Officer, Renato Rocha Pinto, stated:

"We believe combining our technologies will significantly enhance consumer engagement and substantially benefit our global clients."

While Cataneo will continue to serve its existing clients independently, the company plans to collaborate closely with BEN to integrate AI into its internal processes and provide enhanced customer tools. 

Upon closing, Cataneo will become a wholly owned subsidiary of BEN, with plans to expand operations in the US and Latin America. Renato Rocha Pinto will continue as Cataneo's Chief Executive Officer after the acquisition.

The transaction is subject to securing financing on mutually agreeable terms and obtaining customary regulatory approvals and guarantees by certain BEN shareholders. It is expected to close in the fourth quarter of 2024.