Uncategorized Criteo to buy Iponweb for $380m – MobileMarketing Magazine
Criteo is buying ad tech firm Iponweb for $380m (£288m). Criteo said the acquisition will accelerate its Commerce Media Platform vision and offer better control to its enterprise marketers – and their agency partners – by leveraging Iponweb’s established DSP and SSP solutions. It said also that the acquisition expands media owner monetization opportunities and provides critical services for first-party data management across the ecosystem. Together with Iponweb, it said, Criteo will distinguish itself as the commerce media partner of choice on the open internet for the post third-party cookie and identifier world.
“Joining forces with Iponweb turbocharges the execution of Criteo’s Commerce Media Platform strategy,” said Criteo CEO, Megan Clarken. “This is a defining moment in Criteo’s transformation to drive sustainable growth and revenue diversification, creating value for all stakeholders from day one. Criteo’s customers would benefit from enhanced full-funnel capabilities with even more flexible self-service tools, while continuing to leverage Criteo’s unique commerce data for targeting, measurement and superior outcomes.”
The $380m purchase price is expected to be funded through $305m paid in cash and $75m paid in CRTO treasury shares. Criteo said it expects to have over $600m of financial liquidity left after the completion of the contemplated transaction, providing ample flexibility to pursue its strategic transformation and invest in its multiple growth areas.
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