AdTech startup Mozoo acquires French firm for reported $20m

London-based AdTech startup Mozoo has acquired AdinCube, a French AI firm whose proprietary technology claims to be able to predict supply and demand, for a reported $20m.

According to TechCrunch, Mozoo borrowed from BNP Paribas and BPI France to finance the deal and also received funds from angel investors.

The news comes after Mozoo closed a Seed round some six years ago and follows on from the closure of AdinCube’s $1m round at an undisclosed valuation in January.

Mozoo explains the deal will make it easier for it to boost the global expansion of its in-app monetisation tools.

The French firm was co-founded by Jonathan Ferrebeuf and Etienne Rugeri, who claim to have more than five years experience in mobile ad monetisation.

In fact, TechCrunch reports that Rugeri, also the CTO, previously worked in the airline industry – where he was tasked with optimising operations and creating business applications for pilots – before entering the advertising technology space.