UK-founded e-commerce conversion company Ve has acquired digital advertising company GDM Digital in a $12 million deal.
The acquisition marks Ve’s expansion into digital advertising and increases Ve’s client base to more than 6,000 online businesses. GDM works with companies like Microsoft, Lufthansa, IBM and Audi.
All 42 staff at GDM will be retained bringing Ve’s total staff numbers to over 500, working in 18 offices (and languages) worldwide. The deal also covers GDM’s office in Germany.
GDM's expertise lies in performance trading and real-time biddable media, but will now offer its clients the 'VePlatform' to engage and convert customers, in addition to a digital advertising service.
Ve, in case you never heard about the company, has essentially created a platform with a series of apps to help e-commerce companies maximise revenue. The apps kick in along the customer's 'e-commerce journey' to acquire, engage and convert users by reducing bounce rates and minimising website abandonment.
David J. Brown, CEO and co-Founder of Ve, has an impressive track record – he began life as a professional musician and ended up starting this global interactive media company somewhere along the way. He has directed the filing and acquisition of over 120 patents in 40 languages, completed multiple acquisitions and led Ve's investment financing (of over £100 million).
Brown comments on the acquisition: “What sets GDM apart from other ad tech companies is the incredible skill set and expertise of its staff. Digital advertising is becoming a big part of our business because of the natural affinity it shares with our other online conversion apps."
"Ve is growing very quickly in emerging markets, particularly in Asia, where there is also a huge demand for ad tech services.”
Ed Stevens, CEO and co-Founder of GDM Digital, will join Ve as commercial cirector.
Featured image credit: olavs / Shutterstock
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