Marin Software has acquired Perfect Audience, the online retargeting platform, in a deal worth $22.8m.
The deal, which will include $5.4m in cash and the remainder in common stock, will see Marin grant $2.7m of equity retention grants to employees of the acquired company.
As a result, Marin Software will be able to expand its cross channel offer, including the addition of programmatic display and social advertising services, that will allow it to combine search intent data and behaviorial and other data sources to drive audience buyng and retargeting across social and mobile platforms.
David A. Yovanno, CEO of Marin Software, explained: "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."
He added: "Search brings a wealth of real-time intent data and is a perfect match for retargeting. We believe by building-out our capabilities in display and social, our customers will be able to combine their search, display and social data to build and target audience segments across channels to drive better performance and scale. "
It is understood that the deal was completed yesterday (2 June).