Multi-screen measurement specialist Rentrak has completed its acquisition of the US-based TV measurement assets of Kantar Media, in an all-stock deal worth about $128m - c.$30m more than was initially anticipated.

When the deal was first announced in October, Rentrak agreed to issue 1.53 million shares of its stock for the Kantar assets, which at the then price of $64.51 each would have meant a total of around $98m. However, Rentrak stock has since risen by about 30%, climbing to $84.10 per share last Friday when the deal closed, and this has pushed up the value of the deal.

The transaction includes Kantar Media's customer contracts and customer relationships involved in US television measurement, and Rentrak says it expects it to produce ‘multiple long-term revenue streams’, both directly and from future joint marketing agreements with Kantar and its expanded relationship with, and endorsement by, WPP-owned GroupM. Following the deal, Rentrak is expecting to add approximately $7m to $9m in revenue in fiscal 2016.

Alongside the acquisition, WPP has also purchased additional restricted shares of Rentrak common stock from the company for $56m in cash, giving WPP a 16.7% ownership stake of Rentrak's stock. http://www.mrweb.com/drno/news20109.htm

Web sites: www.rentrak.com and www.kantarmedia.com .