Xconomy: Donovan Data Systems to merge with MediaBank, form MediaOcean
New York’s Donovan Data Systems agreed to merge with Chicago’s MediaBank to form a new company called MediaOcean, according to a press release. MediaBank and Donovan Data Systems both provide media management software for advertising agencies that deal with print, television, radio, and online ads. Through MediaOcean, the merged company plans to create a universal operating system for ad agencies to use.
The deal is pending regulatory approval and thus far no financial details have been disclosed. Michael Donovan, founder of Donovan Data Systems, will serve as executive chairman of MediaOcean. MediaBank’s CEO Bill Wise will be CEO of the merged company. MediaOcean is expected to have more than 800 employees across North America, Britain, France, Germany, and India. Both Donovan Data Systems and MediaBank have offices in New York and Chicago. MediaOcean will be headquartered in New York.