Kenshoo Gets a Jump on Mobile-Social Ad Spend With Acquisition
Mobile ad spend will reach $32.7 billion globally in 2014, according to eMarketer - a 91.7 percent increase from 2013. Just as mobile ad spend rises, so too does social ad spend, which is expected to increase 45.3 percent this year.
Although these forecasts are for two unique channels, it’s difficult to talk about mobile ad spend without talking about social ad spend, and vice versa. This is because, of course, consumers overwhelmingly access social content via their mobile phones. Kenshoo, recognizing the growing demand for marketing solutions in these key industries, has recently acquired Adquant, which powers social campaigns for many top grossing mobile apps and games. For Adquant, being under the Kenshoo umbrella will mean it gains access to Kenshoo’s global distribution channel to accelerate its expansion into worldwide gaming markets.
“By joining forces, Kenshoo and Adquant are uniquely positioned to serve advertisers across all verticals and geographies with world-class digital marketing solutions,” said Yoav Izhar-Prato, co-founder and CEO of Kenshoo. “Injecting talent and technology like Adquant’s will ensure Kenshoo stays ahead of the pace in the most important industries and continues to deliver strong performance for our clients.”
While Kenshoo did not disclose the financials of the acquisition, we do know that Adquant executives and other key personnel will join the Kenshoo team which already boasts 24 offices around the globe including its global headquarters in Israel and regional headquarters in the United States, United Kingdom, and China. Adquant clients will continue to manage their programs through Adquant’s best-in-class platform for gaming and mobile as well as take immediate advantage of Kenshoo’s global scale and cross-channel marketing solutions. Over time, the Adquant and Kenshoo products will be integrated to provide clients with holistic digital marketing capabilities.