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Quotient buying Ubimo
Posted on Friday, 08 November 2019 08:21
New York-listed digital promotions, media and analytics firm Quotient Technology has reached an agreement to pick up Israeli peer Ubimo.
No financial details of the transaction have been disclosed at this time.
The deal will represent an exit for Ubimo’s investors, which include Pitango Venture Capital Management, OutCrowd Management and YJ Capital.
All of those parties participated in the firm’s USD 7.50 million Series B funding round, which closed in May 2015.
That was preceded by a ILS 2.00 million (USD 573,315) injection from Pitango and angel investor Eyal Gura in August 2013.
Commenting on the agreement, Quotient chief executive Steven Boal said, “This transaction will position Quotient for even stronger performance in the CPG and retail industries we serve.
“We believe the Ubimo platform will help us accelerate product development of a Quotient self-service platform, one of our strategic objectives.”
The company also believes the purchase will enable it to improve its offering to existing customers while simultaneously expanding its client base with the addition of Ubimo patrons.
At this point, it is not clear when the deal is expected to close.
Ubimo describes itself as a leading location intelligence technology firm.
The company’s technology combines behavioural data on more than 150.00 million monthly active users, with the most comprehensive geographic index in the US.
2018 was the biggest year on record in terms of the value of deals targeting software publishers announced worldwide, with transactions worth a combined USD 169.14 billion being signed off, according to Zephyr, the M&A database published by Bureau van Dijk.
So far, the figure for 2019 stands at USD 119.27 billion, boosted by three deals worth in excess of USD 10.00 billion.
The largest of these saw Salesforce.com agree to pick up Tableau Software for USD 15.70 billion, while a consortium led by Hellman & Friedman picked up Ultimate Software Group for USD 11.00 billion in the second-placed transaction.
© Zephus Ltd