Performance marketing tech firm Criteo has announced it has agreed to acquire HookLogic to strengthen its performance marketing platform.
Criteo will integrate its predictive bidding and product recommendations tech into HookLogic’s products, bringing increased campaign performance to brand manufacturers and enabling retailers to further monetise its site traffic via the HookLogic Exchange.
“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,” said Criteo chief executive officer Eric Eichmann, who was appointed in December 2015 when JB Rudelle stepped up to exec chairman.
“We are excited to help develop the HookLogic platform with our own sophisticated technology and to bring their solution to marketers across the globe. Jon and his team at HookLogic are some of the best minds in performance advertising and we are thrilled to welcome them to the Criteo family.”
New York-based HookLogic was founded in 2004, and its performance marketing exchange connects global retail e-commerce sites with consumer brand manufacturers who compete for virtual shelf-space via sponsored product ads, linking manufacturer marketing spend directly to retail sales.
Its solutions will continue after the deal closes, currently expected in the fourth quarter of Criteo’s fiscal year, to ensure offering continuity.
“We are thrilled to join the Criteo team, who share our passion for transparent, accountable, and relevant marketing,” said Hooklogic chief executive officer Jonathan Opdyke.
“Criteo’s global scale, extensive client base, unmatched technology and team provide a tremendous opportunity to rapidly accelerate HookLogic’s business and expand performance marketing solutions for our clients.”
In a week of major M&A activity in the ad tech sector, it follows the news that Salesforce has bought data management platform Krux, at a reported price of $700m.