Mobile Marketing Firm Verve Acquired by Germany’s MGI
Location-based mobile marketing company Verve has been acquired by German investment holding company Media and Games Invest, the firms announced. The purchase is a sign of continued consolidation in ad tech.
Verve, founded in 2005 and based in New York, pitches itself as a “playbook for the connected future” and touts its ability to create “experiences, not ads.” The company uses first-party mobile location data to help advertisers to connect with customers in the most effective times and places.
In the press release, the companies underscored Verve’s location data-driven ability to drive prospective customers into brick-and-mortar stores, adding a cutting-edge ad tech capability to MGI’s suite of existing media solutions. Verve will also help the European enterprise increase its presence in North America.
For Verve, MGI offers increased inventory and the opportunity to collaborate with more than 30 other MGI properties. The European Union’s strict stance on privacy also hit Verve hard overseas, and partnering with a native of the continent could prove advantageous as global privacy legislation intensifies in coming years.