Ch. 11 Auction Drives Videology Inc. Sale Price To $119M

Law360 (July 17, 2018, 7:21 PM EDT) -- A Delaware bankruptcy judge on Tuesday approved the $119 million sale of advertising software company Videology Inc. to a marketing technology company at a price driven up about $72 million by a competitive auction between two bidders.

During a hearing in Wilmington, U.S. Bankruptcy Judge Brendan L. Shannon approved a sale order for stalking horse bidder Amobee Inc., a global marketing company and subsidiary of Singapore Telecommunications Ltd., or SingTel, to purchase the company at a significantly increased price from what it offered to pay in May. The judge called the auction results "welcome and extraordinary."

After the July 13 auction,...

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