Adtech company Sizmek is to acquire AI marketing platform Rocket Fuel in a deal worth an estimated $145m (£111.3m).
Collectively, Sizmek and Rocket Fuel service more than 20,000 advertisers and 3,600 agencies to global audiences in over 70 countries.
Upon completion of the transaction, Rocket Fuel will become a privately-held company. The transaction, which is expected to close in the third quarter of 2017, is subject to regulatory approvals and other customary closing conditions.
“The acquisition of Rocket Fuel brings omni-channel creativity and AI-enabled decisioning together under one roof, providing our clients with a self-service predictive marketing platform that optimises campaigns across the entire media plan,” said Dr. Mark Grether, executive chairman of Sizmek.
“This is the next logical step in marketing automation–media optimisation and full creative optimisation combined, bringing together the context and the creative for the optimal consumer experience. The result is advertising that is deeply personalised, highly intuitive, and AI-enabled for peak performance, redefining the boundaries of creative possibility and media execution.”
Randy Wootton, chief executive officer of Rocket Fuel, said the deal will enable agencies and brands to address key performance objectives across paid, owned and earned media.
“This transaction accelerates our global expansion efforts in more than 70 countries, which empowers us to provide agencies and brands with more tools, exceptional service and support worldwide,” he added.
