LONDON (Alliance News) - Digital advertising company Matomy Media Group Ltd on Wednesday said it has made an investment in performance email marketing and advertising targeting group Maven Marketing Group Inc, which operates under the Avenlo brand.
Matomy has acquired at 70% stake in a newly-formed company which has acquired the business activity and operations of Avenlo, with an option to acquire the remaining 30% over the next three years.
No financial details were provided on the transaction.
Matomy said the deal will boost its email marketing capabilities and will provide its advertising clients with cross-device ad-targeting and data management services.
"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," said Ofer Druker, Matomy's chief executive.
Matomy shares were down 0.5% to 198.95 pence on Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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