UK tech firm Ve Global has moved for Swedish analytics firm Divvit, its first acquisition.
London-based ad and martech company Ve Global is now the majority shareholder in Divvit, an international business which operates at the forefront of analytics, insights and revenue attribution in digital marketing.
It has already made a financial commitment of approximately £500,000 to incorporate its solutions into Ve’s existing product offering.
Divvit will continue to operate primarily from its Lund base in Sweden, with its current workforce of nine working alongside Ve’s 385-plus staff to add an important additional service layer to its catalogue of over 4,000 clients worldwide.
Ve Global, which last year launched a worldwide recruitment drive, said the deal is the first of many strategic acquisitions to be made under the leadership of CEO David Marrinan-Hayes.
“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,” said Marrinan-Hayes.
“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.
“More broadly speaking, as our first acquisition this is a big landmark in the Ve Global story. I’m looking forward to welcoming Divvit’s technology and the invaluable insight their team of AI, data science, and revenue attribution experts will bring.”
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.
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 such as Google 360 (approximately 90%).
“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.”