Ve Global has announced its first acquisition as the company continues to grow following its £15 million investment last year and administration nearly two years ago.
Ve Global is now the majority stakeholder in Sweden-based technology company Divvit, an e-commerce analytics platform, and has made a financial commitment of an initial £500,000 to help integrate Divvit’s solutions into its existing products.
This is the first acquisition to be made by Ve under ambitious CEO David Marrinan-Hayes as Ve looks to build out its marketing and advertising tech stack and expand its global presence. The group said, “this is the first of many strategic acquisitions”. Ve will also take a new suite of solutions to the market during 2019, including a new iteration of digital assistant.
Since being bought out of administration, the company has secured funding from investors and now has more than 4,000 clients worldwide. In an interview with Marrinan-Hayes last year, he told us they hope to grow to at least £60 million and be fully profitable in 2019.
“Revenue attribution to marketing channels and solutions is a critical challenge in the sector. For too long now, online merchants have been impeded in their ability to place real value on the digital touchpoints they use to drive sales because they lack the data-driven insights needed to properly attribute a sale across all touchpoints,” commented Divvit founder and CEO David Linell.
Once fully integrated with Ve, the platform will be the “first realistically-priced data-driven attribution and insights solution in the market”. Divvit’s current workforce of nine will work alongside Ve’s 385 plus staff to add an additional service layer to its catalogue of over 4,000 clients worldwide.