Ve Global (Ve) 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, marking 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 approx. £500k to incorporate its advanced analytics and attribution solutions to Ve’s existing product offering.
The deal, which is a combination of equity and funding, sees Ve become the majority shareholder in Divvit and will significantly strengthen the company’s position in the £1.6bn/year global ecommerce analytics market. Divvit will continue to operate primarily from its Lund base in Sweden, with service to existing clients unaffected.
Divvit’s current workforce of nine will work alongside Ve’s 385 staff to add an important additional service layer to its catalogue of over 4,000 clients worldwide.
This is the first of many strategic acquisitions to be made by Ve under the leadership of CEO David Marrinan-Hayes, as the company looks to build out its marketing and advertising technology stack – which operates from discovery through to purchase – while expanding its global brand and footprint.
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.
“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.”