Criteo took the opportunity during its third-quarter 2018 earnings call this week to report the acquisition of Manage, a U.S.-based company with an app installation advertising business. The company did not disclose the purchase price.
Benoit Fouilland, Criteo CFO, told Search Insider the acquisition supports the company’s efforts to reduce advertising’s reliance on cookie-based advertising technology.
“Apps provide a better environment for monetization,” he said, suggesting that apps do not rely on cookies and targeting becomes much cleaner. “The more we increase our dependence on apps, the more we become independent of cookies.”
The acquisition expands Criteo into gaming, food delivery and ride-sharing, and further supports its work with companies in retail and travel.
Despite a 6% decline in year-over-year revenue, Criteo reported pretty good earnings for the third quarter of 2018, about $529 million. Cash flow from operating activities decreased 19% year-over-year to $50 million. Net revenue came in at $223 million for the quarter. And its in-app business grew 67% year-over-year on a revenue ex-TAC basis.
The company reported that it has added a few hundred clients during the quarter, bringing its total to more than 19,000. It also forecast revenue for the fourth quarter of 2018 of between $256 million and $262 million.
Fouilland called 2018 a traditional year. He said the company doesn’t expect 2019 to feel the same types of “headwind” it did this year. “We’re taking the right actions to bring capacity up and restore the growth,” he said.
There is a plan to leverage the company’s investments in apps, and continue to invest in products like Criteo Customer Acquisition and its monetization platform.