The French performance marketing and cross-channel advertising company Criteo announced that it is set to acquire HookLogic, an e-commerce search advertising and marketing exchange platform that focuses mainly on the retail industry.
The deal is reportedly a $250 million all-cash transaction that gives Criteo a brand-new set of customers with HookLogic’s leading advertising exchange platform.
“With HookLogic’s acquisition, Criteo is adding a complementary performance marketing solution to its portfolio, focusing on delivering more value to brand manufacturers and retailers alike,” said Criteo CEO Eric Eichmann in a statement. “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 (Opdyke) 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.”
This acquisition not only strengthens Criteo’s current performance marketing platform, but also gives it access to notable CPG (consumer packaged goods) advertisers like Clorox and Kraft with HookLogic’s unique e-commerce capabilities.
“HookLogic’s performance marketing exchange enables these consumer brand manufacturers to bid on sponsored product ads on ecommerce and publisher sites, including those operated by Walmart, Macy’s, Target and Sears,” wrote AdExchanger. HookLogic’s CPG customers deliver ads and then measure ROI through its post-click attribution system.”
Furthermore, HookLogic’s exchange platform connects some of the largest e-commerce sites across the world with consumer brand manufacturers who compete for product ad placement. Retailers earn revenue and increase margin by utilizing these CPC (cost per click) native ads placed directly on their sites.
“We are thrilled to join the Criteo team, who share our passion for transparent, accountable, and relevant marketing,” stated Jonathan Opdyke, CEO of HookLogic. “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.”
The marriage of cross-channel and performance marketing with e-commerce exchange seems to be a good fit for Criteo. According to G2 Crowd’s Fall 2016 Cross-Channel Advertising Grid℠ Report, Criteo displays a well above-average display functionality and retargeting satisfaction ratings, based on user reviews. The high level of functionality in these areas should coexist well HookLogic’s marketing exchange and strong focus on the retail industry.
With Criteo seeking to provide more insight for CPG marketers, and to compete with the likes of e-commerce giant Amazon, the addition of HookLogic’s platform is a step in the right direction.