Israeli digital performance-based advertising company Matomy Media Group (LSE:MTMY) has acquired a 70% stake in Canadian performance email marketing and ad targeting company Maven Marketing Group Inc., which operates under the name Avenlo. Matomy has the option to acquire the remaining 30% of the company over the next three years. Market sources believe Matomy paid about $17.6 million.
Avenlo brings significant real-time, data-driven ad targeting and media buying capabilities to Matomy, and will materially strengthen the Israeli company's email acquisition marketing solution. Forrester Research estimates that US advertiser spend on email marketing services will top $3.2 billion by 2019. Revenue in Matomy's current email marketing business grew 26% in 2014.
This latest acquisition by Matomy follows last year's purchase of mobile ad platform Mobfox. The company raised $70 million in its IPO last summer while Publicis subsequently acquired a 20% stake in Matomy.
Matomy CEO Ofer Druker said, "One of our strategic priorities is to invest in companies that will further build the growth and value of our business. Avenlo has developed proven innovative technologies and solutions to email acquisition marketing, ad targeting and data management that will help fuel further growth in these important areas of our business. Data is a crucial element in performance-based advertising, and the data capabilities that Avenlo provides will assist Matomy across all of our media channels.
Published by Globes [online], Israel business news - www.globes-online.com - on April 15, 2015
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