Ve Global, a British-founded marketing technology company, has acquired a Swedish e-commerce analytics platform Divvit in a deal that involves both cash and Ve's stock. Ve has also “made a financial commitment” of some £500,000 to integrate Divvit's solutions into its products, the company stated in a press release.
After the acquisition is completed, Divvit's team of nine people will continue to operate from its headquarters in Lund, Sweden, with service to existing clients unaffected. At the same time, Ve is to incorporate the startup's data-driven insights in its suite of products that includes solutions in digital advertising, onsite engagement, and remarketing.
The deal is the first strategic acquisition made by Ve, which stated that “many” more should be expected. The company currently employs more than 385 people, 50 of whom had been hired last year as part of an effort to expand Ve's presence in 18 markets.
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