Ad-Tech buys Google-focused company for more than 0 million

Ad-Tech buys Google-focused company for more than $100 million

Advertising technology provider Solutions Oy said it is buying, a company that provides creative tools for various Google platforms, for more than $100 million as it seeks to expand its offering beyond social media.

Previously Helsinki-based mainly focused on paid social media ads on Meta platforms company

The characteristics of Facebook and Instagram, along with PinterestAnd

Tik Tok and Snapchat. Its technology is designed in part to help brands understand what creatives resonate best with different audiences and to automatically generate some of these creative assets. It also seeks to help brands deliver an advertisement to specific audiences simultaneously and on a platform where it can be most effective.

“Bringing paid social networks on Facebook and Google together seemed like a perfect match for our customers as a whole,” said Christo Ovasca, CEO and co-founder of customers include Uber technologies company ,

under the shield company

and eBay company ,

According to The company said it processes more than 3 billion euros, or $3.4 billion, of marketers’ spending each year and collects more than 100 million euros in annual revenue.

The acquisition comes as marketers are directing more money into digital advertising, a trend that has accelerated as the pandemic has kept consumers more at home and encouraged the growth of online shopping.

Digital advertising was expected to account for 64.4% of all advertising in 2021, according to a December forecast from GroupM, which includes media buying agencies and data operations of advertising giant WPP PLC. Digital made up 60.5% of the total in 2020 and 52.1% in 2019, according to GroupM.

The percentage of ad dollars going to Facebook and Google is also rising. Somewhere between 80% and 90% of digital advertising outside of China will go to Google’s Alphabet company ,

Meta and company ,

GroupM estimated in the forecast.

Mr Ovaska said the acquisition of London-based will help continue to move beyond its social media roots to automated ads, connected TV and other parts of the Google Ads ecosystem. provides tools for marketers to use with YouTube, the Google Ad buying system DV360, and the Google Ads platform.

In late 2019, Providence Equity Partners LLC acquired a majority stake in as the private equity firm that is betting brands will spend more marketing dollars on Facebook and other social platforms. Chairman Laura Desmond, an operating partner in Providence and former CEO of Publicis Groupe, said marketers often test and learn digital advertising strategies using a range of technologies or partners, but then seek to integrate their business with a partner who can help them operate. effectively via different channels.

Ms Desmond said that adding helps serve brand and performance marketers to “bring the best creations to their audience, personalize them so they’re relevant, and they buy.”

write to Megan Graham at

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