Cross-channel performance ad cloud Marin Software has announced it has entered into a definitive agreement to acquire French-based social ad platform for Facebook and Twitter, SocialMoov.
The agreement was expected to close in mid-February, subject to customary closing conditions. Under the terms of the agreement, total consideration for the deal is expected to be $18.75 million, consisting of $8.0 million of cash and $10.75 million in shares of Marin’s stock valued at the ten-day trading average two days prior to entering into the definitive agreement. Up to $2 million dollars in equity awards also will be granted to SocialMoov employees following the closing.
Performance marketing is no longer dominated by a single channel. The acquisition of SocialMoov will play a key role in Marin Software’s vision to provide the industry-leading advertising cloud through which marketers can measure, manage and optimise ad spend across the web and mobile devices. Once the acquisition closes, Marin will possess cutting-edge social advertising technologies, including Facebook video advertising, Twitter API integration, and television synchronisation, which the company believes will augment Marin’s current social offering.
“Social is the fastest growing segment in online advertising and is essential for both brand and performance marketers,” said David A. Yovanno, chief executive officer at Marin Software. “Once the transaction is complete, I believe the combination of SocialMoov and Marin Software will push our social offering to the forefront and strengthen our ability to target audiences across search, display and social channels. The SocialMoov team brings a level of expertise in social advertising that will prove invaluable to our research and development moving forward. We are excited to add their social solution to Marin’s ad cloud.”
“Since its inception, SocialMoov has sought to provide a leading social advertising platform, designed specifically for marketers looking to leverage social networks to drive revenue and improve their reputation,” said Veronique Bergeot, co-founder and general manager at SocialMoov. “I believe the combination of our technology with Marin Software will offer advertisers a greater return on their ad spend and new performance marketing opportunities. It is an honor to join Marin Software, a leader in digital marketing.”
For full year 2015, Marin Software expects the transaction will have no material impact on non-GAAP operating loss.