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Sensor Tower acquires Data.ai
19.03.2024 - 18:21 / gamesindustry.biz
Sensor Tower has acquired mobile marketing firm Data.ai for an undisclosed sum, which will involve an unknown number of layoffs from the latter's workforce.
As reported by TechCrunch, Sensor Tower plans to utilise Data.ai to strengthen its position in digital marketing and mobile, and to expand its customer base and products.
Sensor Tower said its platforms will remain as standalone offerings "with no additional consumer-focused changes" following the acquisition, and its leadership team will remain the same and will manage both companies.
However, an unknown number of staff at Data.ai will be laid off as a result.
"As we unite Sensor Tower and Data.ai, we are eager to incorporate new team members," said Sensor Tower CEO Oliver Yeh. "This merger also necessitates optimising our team structure. We are committed to providing assistance and resources to our departing colleagues during this transition."
Commenting on the acquisition itself, Yeh continued: "We have long admired Data.ai's stellar product and high-quality team.
"The acquisition will allow Sensor Tower to broaden its audience and expand its best-in-class offerings to any company that participates in the digital economy – helping bridge the gap between companies and consumers."
Data.ai CEO Ted Krantz added: "This evolution offers the best path to innovation, more insights across more channels, and ultimately, more value derived by clients."
Bain Capital Credit led the financing of the transaction, with follow-on investment provided by Riverwood Capital and new investment from Paramark Ventures.
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