• by Laurie Sullivan  @lauriesullivan, June 2, 2014

Marin Software has acquired San Francisco-based Perfect Audience to support ad retargeting across Facebook, Twitter and other social sites. The transaction closed Monday.

Under the terms of the agreement, Marin Software paid $22.8 million -- approximately $5.4 million in cash and the remainder in common stock. Marin also will fund $2.7 million of equity retention grants to continuing Perfect Audience employees.

The acquisition of the privately held display and social retargeting company expands Marin's cross-channel services and tools, adding new programmatic display and social advertising functions while strengthening its audience targeting services. Real-time search intent data combines with behavioral and other data to drive audience buying and retargeting across Facebook, Twitter, mobile and other display ad placements. 

Adding Perfect Audience's retargeting capabilities gives Marin's advertising clients the ability to target the 95% of their traffic that doesn't convert, per Chris Lien, Marin’s founder and executive chairman.

The deal also adds American Apparel, bebe, New Relic, 99 designs, and Rackspace as customers, among others.

Search brings a wealth of real-time intent data. "As display and social advertising evolve, performance marketers are looking for ways to achieve the same financial return with these channels that they’re accustomed to with search," per David A. Yovanno, Marin CEO.

In May, Marin added support for Google AdWords RLSA and appointed Yovanno CEO, as Lien stepped aside to serve as executive chairman.

Perfect Audience was founded in 2012 to offer businesses a tool to retarget consumers across the Web through Facebook Exchange (FBX), Google’s DoubleClick Ad Exchange, Twitter, and other ad exchanges.