Digital advertising specialists Matomy Media have acquired a 70 per cent stake in email marketing provider Avenlo for an undisclosed sum.
The deal bolsters Matomy’s expertise in data-driven email marketing and ad targeting as part of an investment strategy that includes the recent acquisition of mobile programmatic advertising platform MobFox.
With Avenlo under its wing Matomy will expand its existing email marketing business, leveraging cross device ad targeting and data management solutions. Avenlo co-founders Rafael Alter, Chris DeDiego and Joseph Freiman will all join Matomy’s management team.
Commenting on the investment, Matomy CEO Ofer Druker said: “One of our strategic priorities is to invest in companies that will further build the growth and value of our business. Avenlo has developed proven innovative technologies and solutions to email acquisition marketing, ad targeting and data management that will help fuel further growth in these important areas of our business.
"Data is a crucial element in performance-based advertising, and the data capabilities that Avenlo provides will assist Matomy across all of our media channels. We look forward to working with the Avenlo management team to help it expand into new international markets and together build the global leader in email acquisition marketing”.
Freiman, Avenlo co-founder, added: “We’re excited to join forces with Matomy, given its track record of success in performance-based advertising. Avenlo is poised for significant growth, and by leveraging Matomy’s international reach and infrastructure, as well as its customer network, we will continue to accelerate our growth and expand into new international markets through the deployment of innovative technology and capabilities”.
Matomy retains the right to purchase the remaining 30 per cent stake over the next three years.