Online shopping cart recovery software Ve Interactive has bought advert-targeting system adGENIE, in a multi-million pound deal.
While the exact figure has not been revealed, the London-founded data-driven solutions provider, which is headed up by CEO David Brown, said it was a ‘multi-million’ pound acquisition.
The deal sees Ve labelling itself as a ‘consolidated remarketing, retargeting and digital advertising delivery company’.
Brown said integration of the adGENIE solutions into the Ve platform will now expand Ve’s cross channel capabilities to include ad delivery, dynamic prospecting and retargeting.
All staff from adGENIE’s Shoreditch office will relocate to Ve’s hub in Clerkenwell immediately. Once the necessary integration processes have been made, adGENIE will then become VeGenie and will sit within Ve’s portfolio of conversion solutions.
The Ve platform already houses re-engagement apps that work to drive growth by reducing bounce rate, increasing customer engagement and minimising website abandonment.
“This landmark integration will provide our clients with a consolidated dashboard view of these complementary disciplines,” Brown said.
“The resulting insight into customer journeys will be unparalleled, enabling digital marketers to do their job far more effectively and efficiently.”
AdGENIE was co-founded in 2006 by Guy Sneesby and Martin Connolly.
Sneesby, the MD and technology lead of adGENIE, was formerly the MD of Dennis Interactive, the digital arm of Dennis Publishing Ltd, which he founded in 1997 and built into a £12 million turnover company.
He will now become the director of digital advertising solutions at Ve Interactive
Commenting on today’s news, London-based Sneesby said: “This acquisition will ensure that the powerful Ve criteria-filtering can now be applied to adGENIE’s solutions, generating even greater ROI.”
“Our clients will also benefit from Ve’s international infrastructure, in-house design team, VeLabs development division, dedicated R&D department and account management team.”
The expanded Ve offering will now be extended across Ve’s 3,500 global client base.
“Going forward, e-commerce sites will, for the first time, have access to valuable insight on a single platform, that will help them identify new strategic areas of opportunity within both disciplines of advertising and optimisation,” Brown added.
It has been a busy year for Ve as earlier this year it added Japan to its list of global offices. It already has offices in the US, Australia, France, the Netherlands, Sweden, Brazil, two in Germany and one in China.
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