Perion Network, an Israel-based internet company, has acquired Ukrainian AI startup Septa Communications, better known as Captain Growth; Perion stated that the total amount of the deal is $3.75 million, which consists of a cash payment at closing and earn-outs that are to be paid within two years provided the startup reaches its performance goals.
Perion plans that the startup will complement Undertone, a “synchronised digital branding” platform that the Israeli company bought in 2015 for $180 million.
Launched in 2017, Captain Growth is a platform that analyses the performance of Facebook and Google AdWords ads and provides the user with recommendations on how to improve the efficiency of a campaign. The recommendations can be applied automatically in one click.
“With Captain Growth’s proprietary ‘Value Unlock’ technology, our synchronization will now give brands the critical ability to benefit from putting the best-performing units in front of the right users at the right time — for unprecedented cross-channel engagement,” said Doron Gerstel, CEO of Perion.