Criteo on Thursday announced it has acquired Tedemis, a Paris-based personalized email marketing platform that relies on a user opt-in model.
The company acquired Tedemis for €21 million ($28.8 million), with €17 million ($23.3 million) paid in cash upfront. The remaining €4 million ($5.5 million) will be paid if certain milestone incentives are reached. Specific milestones were not disclosed.
Criteo made the move to keep up with marketers that are increasingly turning to multi-channel campaigns. Additionally, Eric Eichmann, Criteo’s chief operating officer, sees opportunity in “the increased consumption of email via mobile,” per a statement.