Mediaocean, an advertising software provider backed by Vista Equity Partners, has acquired counterpart Invision Inc.

Customers of New York-based Invision include broadcasters, cable and satellite TV providers, multichannel video programming distributors and programming syndicators. The target’s software supports more than $16 billion in annual ad revenue.

Mediaocean’s technology automates advertising workflow, including the ad buying process, analysis and optimization, and invoicing and payments, for both digital and traditional advertising. The New York-based company has more than 80,000 users in ad agencies, advertisers, broadcasters and publishers, with 800 employees in 10 offices worldwide.

The Invision deal is the fourth acquisition by Mediaocean since Vista acquired the company in August 2015. Two of those acquisitions were BCC AdSystems, a media buying workflow software provider in Australia and East Asia, and ColSpace, which sells media planning tools.

Vista is a private equity firm with offices in Austin, Chicago and San Francisco, and has more than $24 billion in cumulative capital commitments. The firm targets software, data and technology companies.

The rising use of mobile internet-connected devices and social media has boosted the value of digital marketing agencies as M&A targets. IBM (NYSE: IBM) bought several digital marketers, most recently in February. In March, Web.com Group Inc. (Nasdaq: WEB) agreed to buy one such digital marketer, Yodle . In December, Perficient Inc. (Nasdaq: PRFT) acquired Enlighten, a privately-held digital marketing agency.

The Invision deal closed on June 30 and financial terms were not disclosed. Stifel Financial Corp. (NYSE: SF) was Invision’s adviser on the transaction.

Technology