Cross-channel marketing company Marin Software claims it is close to securing a deal for French ad platform SocialMoov.
PerformanceIN has been told that a purchase could be finalised as early as this month, handing Marin a bank of social advertising tools for use with Facebook and Twitter campaigns.
A fee for the deal has been agreed at $18.75 million. It’s thought that $8 million will arrive in cash, with a further $10.75 million represented by Marin shares. Some of luckier employees at SocialMoov will also receive a financial boost of up to $2 million divided, a statement claims.
Notes from the announcement also highlight Marin’s intention to make strides in the driving of results and ROI across one of the fastest growing digital ad channels around.
Socialmoov’s client base includes big-name advertisers such as games developer Ubisoft and fashion brand Lacoste, while agencies such as iProspect and Havas are also listed as partners.
The company was founded in 2011 and has since evolved into a social platform capable of helping marketers drive better ROI for their campaigns through a variety of tools. According to David A. Yovanno, CEO at Marin, SocialMoov’s offerings will very much compliment the attributes of his own firm.
“Once the transaction is complete, I believe the combination of SocialMoov and Marin Software will push our social offering to the forefront and strengthen our ability to target audiences across search, display and social channels,” he commented.
“The SocialMoov team brings a level of expertise in social advertising that will prove invaluable to our research and development moving forward.”
Marin helps both advertisers and agencies optimise digital campaign spend across a number of channels, with particular focus on search, display and social. The company is currently responsible for measuring and optimising an estimated $7.2 billion in marketing spend per year.
Returning Yovanno’s gesture, Veronique Bergeot, co-founder and general manager at SocialMoov, said it would be an “honour” to join the team at Marin.
She added: “Since its inception, SocialMoov has sought to provide a leading social advertising platform, designed specifically for marketers looking to use social networks to drive revenue and improve their reputation.
“I believe the combination of our technology with Marin Software will offer advertisers a greater return on their ad spend and new performance marketing opportunities.”
The acquisition is subject to what both sides have described as “customary closing conditions”.