Retargeting group Criteo has signed off an agreement to acquire performance marketing company HookLogic, looked to be made with an eye for its advertising exchange technology.
Terms of the deal have not been disclosed*, but the acquisition is expected to close in Criteo’s fourth fiscal quarter.
[*Criteo has since revealed it’s paying $250 million for HookLogic.]
Gaining $15 million in Series C funding last year, New York’s HookLogic has carved out a specialism in integrating native search advertising into leading e-commerce sites, targeting shoppers in retail and travel verticals.
Sites that have benefits from HookLogic’s technology include Walmart, Target, Best Buy, Macy’s, Costco, Argos, Expedia and Priceline.
“With HookLogic’s acquisition, Criteo is adding a complementary performance marketing solution to its portfolio, focusing on delivering more value to brand manufacturers and retailers alike,” commented Criteo’s CEO, Eric Eichmann.
According to its announcement, Criteo plans to integrate predictive bidding and product recommendation technology into HookLogic’s ad exchange, with a result in increased campaign performance and better ability for brands to monetise the traffic driven.
‘Innovation & technology’
August this year saw the acquiring firm’s financials in great shape, hitting quarterly revenue of $407 million, while onboarding 900 new clients within the second quarter alone.
Aside from a core focus on mobile advertising, which amounted to 50% of Criteo’s total revenue at the turn of the year, native featured high on Criteo’s list of priorities when PerformanceIN spoke to Eichmann in Q2.
This latest acquisition demonstrates that Criteo is sticking to its CEO’s vision of accountable advertising through “commitment to innovation and technology”.