France-based adtech outfit Criteo has inked an agreement to acquire advertising exchange HookLogic for a publicly undisclosed fee, a deal announced within 24 hours of SalesForce's purchase of Krux.
Criteo claims that the acquisition will strengthen its core product, “helping it deliver more value to brand manufacturers and retailers alike,” said Eric Eichmann, chief executive of Criteo.
He added: “We are excited to help develop the HookLogic platform with our own sophisticated technology and to bring their solution to marketers across the globe.
“Jon and his team at HookLogic are some of the best minds in performance advertising and we are thrilled to welcome them to the Criteo family.”
The marketing exchange provides a bridge between e-commerce companies and manufacturers, providing virtual shelf-space via sponsored product ads.
Jonathan Opdyke, chief executive of HookLogic weighed in: “Criteo’s global scale, extensive client base, unmatched technology and team provide a tremendous opportunity to rapidly accelerate HookLogic’s business and expand performance marketing solutions for our clients.”
Criteo will embed its predictive bidding and product recommendation features into HookLogic to help buff its performance and monetization.
The announcement follows on quickly from rival platform Salesforces’ acquisition of data management platform (DMP) Krux for $700m.