Quotient Technology Inc. has announced that it has agreed to acquire Israeli ad-tech data analytics company Ubimo. No financial details were disclosed but media reports say the acquisition was for several tens of millions of dollars, Trend with reference to Globes reports.
Ubimo’s ad-tech and data analytics capabilities enable marketers to understand and act on real-world behavior, bridging the knowledge gap between the digital and physical worlds. Using AI technology, Ubimo combines multiple data sets with its proprietary location-indexing technology to improve the effectiveness of media campaigns.
The Tel Aviv-based company was founded by CEO Ran Ben-Yair, CTO Oded Poncz, COO Gilad Amitai and creative director UDI Graff. The company has raised $9.5 million since it was founded, according to Start-Up Nation Central, and investors include Pitango, OurCrowd, Yahoo Japan and Eyal Gura.
Ben-Yair said, "We’re excited to be joining the Quotient team. We’ve worked hard to build a leading business that we are confident will be enhanced by becoming a part of the Quotient team. We share a common view of the market, and together, we can drive great results and value for our customers."
Quotient Technology, a US-based digital promotions, media and analytics company, with a market cap of $841 million, said, "Through its demand-side platform (DSP), Ubimo will bring best in-class technology to further strengthen Quotient’s targeted digital media solutions, accelerate the development of Quotient’s self-service platform, and meet the evolving needs of consumer-packaged goods (CPGs) brands and retailers."
The US company added that the acquisition will accelerate Quotient’s product development of a self-service platform, where marketers can plan, buy, and optimize media campaigns directly from an automated platform. Ubimo provides marketers with a DSP, which programmatically manages ad campaigns across publishers through an automated bidding and self-service platform. The platform enables businesses to embed strategic insights into decision-making and improve digital campaign performance.
"I am pleased to welcome the Ubimo team to Quotient," said Steven Boal, CEO and Chairman of the Board, Quotient. "This transaction will position Quotient for even stronger performance in the CPG and retail industries we serve. We believe the Ubimo platform will help us accelerate product development of a Quotient self-service platform, one of our strategic objectives."
Quotient has worked with Ubimo for several years to help deploy targeted media on behalf of CPG customers and retail partners. By incorporating Ubimo into its existing media platform, and layering in Quotient’s exclusive shopper data, Quotient expects to meaningfully improve campaign performance for customers. Ubimo will also provide a new customer and partner base, including leaders in adjacent markets, such as Out-of-Home.
Ben-Yair, Poncz and Graff also founded personalized website gadgets company LabPixies, which was sold to Google for an estimated $25 million in 2010 - Google's first-ever acquisition in Israel.