Ve Global makes first major acquisition
Ve Global has announced its first acquisition in the form of international technology company Divvit which operates at the forefront of analytics, insights and revenue attribution in digital marketing.
The acquisition marks a significant milestone for the fast-growing ad and martech business. The UK-founded tech company is now the majority shareholder in Divvit and has already made a financial commitment of approximately £500k to incorporate its advanced analytics and attribution solutions to Ve’s existing product offering.
Ve said the deal, which is a combination of equity and funding, will significantly strengthen its position in the $2bn a year global ecommerce analytics market.
Divvit will continue to operate primarily from its Lund base in Sweden, with service to existing clients unaffected. It’s current workforce of 9 will work alongside Ve’s 385+ staff to add an important additional service layer to its catalogue of over 4,000 clients worldwide.
Last year Ve launched a worldwide recruitment drive to nurture new business opportunities with 50 new hires in 18 markets. The business will also take a new suite of solutions to market throughout 2019, including a new iteration of ‘Digital Assistant’ – Ve’s flagship ads to on-site engagement platform.
Divvit was founded in 2015 by founder and current CEO David Linell and the platform currently tracks customer engagements online to identify the most effective digital marketing channels for over 350 online brands.
Ve Global CEO David Marrinan-Hayes said: “Data lies at the heart of Ve’s next stage of growth and is key in realising our vision to personalise online experiences at scale for an audience of one.
“Adding Divvit’s data insights to Ve’s growing digital infrastructure will enable us to increase transparency across the sales funnel, providing our clients with a greater understanding of a customer’s propensity to buy while enhancing their ability to drive up ROI from under-performing marketing channels.
“For the consumer, it simply translates into better experiences at the digital touchpoints they value the most.”
Divvit founder and CEO David Linell said: “Revenue attribution to marketing channels and solutions is a critical challenge in the sector.
“For too long now, online merchants have been impeded in their ability to place real value on the digital touchpoints they use to drive sales because they lack the data-driven insights needed to properly attribute a sale across all touchpoints.
“Not only will Divvit’s integration into Ve’s unified solution solve this, the solution will be significantly cheaper than market alternatives.
“I’m excited about Divvit’s role within Ve, offering merchants a next generation customer and ecommerce platform to drive meaningful insight and significant revenues.”