Performance display advertising company Criteo has acquired email marketing solutions business, Tedemis.

The French-founded, NASDAQ-listed company, said that with the addition of Tedemis, it can offer advertisers a customer centric multi-channel performance marketing solution that provides ‘significant’ and measurable ROI based on a cost per click (CPC) model.

The total consideration for Tedemis is € 17 million in cash paid up-front, with the remaining € 4 million being deferred based on agreed milestones. Additional terms of the transaction were not disclosed.  

The deal comes just a week after Criteo’s fourth-quarter results, in which revenue jumped 57% to €135.9 million, compared to €86.6 million in the same quarter in 2012.

Chief operating officer at Criteo, Eric Eichmann, said: “The increased consumption of email via mobile presents an exciting opportunity for advertisers.

“By adding Tedemis’ solutions to Criteo’s portfolio, we are uniquely positioned to extend our differentiated and personalised digital performance advertising solutions to new channels.”

Paris-headquartered Tedemis, which operates in seven European countries, specialises in targeting and retargeting by email and provides real-time, opt-in, personalised email marketing solutions.

The 2006-founded business, which is a startup funded by venture capital companies, was co-founded by Antoine Devos and Alexandre de Chavagnac.

Devos said: “We are excited to join the Criteo team and contribute to the company’s strategy of providing solutions that meet advertisers end-to-end performance marketing requirements.”