Matomy Media Group, a supply-side platform (SSP) headquartered in Tel Aviv, Israel, on Wednesday announced it has acquired 70% of Avenlo, a Toronto-based ad targeting and email marketing firm. Matomy has the option to acquired the remaining 30% over the next three years.
Terms of the deal were not disclosed, but the Wall Street Journalestimated the price to be “around $17.6 million” -- the price Matomy recently acquired MobFox for. However, a source with knowledge of the deal told Real-Time Daily that price point is "in the ballpark” but not accurate.
Based on London Stock Exchange and UK listing requirements, Matomy is not required to disclose the full valuation of the deal because of its “size and structure.” Matomy trades on the LSE.
Avenlo uses probabilistic modeling algorithms to predict individual user engagement with email marketing in real-time, Matomy claims in a release announce the acquisition. Avenlo says it has access to over 300 million unique consumer profiles and reaches up to 95% of U.S. Internet users.
“We believe Matomy will be able to apply this technology to its already substantial email marketing business, which grew 26% last year to over $22 million in revenue,” Matomy wrote in a statement. “Eventually, we believe the ad targeting and data management capabilities can be applied across its other media channels also.”