London-based Ve Global, an engagement and analytics solution for e-commerce brands, has acquired Divvit, a Swedish digital marketing startup that specialises in analytics, insights and revenue attribution. The amount of the deal was not disclosed.
The deal will significantly strengthen Ve’s position in the $2 billion per year global e-commerce analytics market. Divvit will continue to operate primarily from existing headquarters in Lund, Sweden.
Divvit’s current workforce of 9 will work alongside Ve’s staff of 385 employees to add an additional layer of service to its 4,000 clients worldwide.
This is the first of many strategic acquisitions to be made by Ve under the leadership of its CEO David Marrinan-Hayes, as the company looks to build out its marketing and advertising technology stack – which operates from discovery through to purchase – while expanding its global brand and footprint.
Ve will also take a new suite of solutions to market throughout 2019, including a new iteration of ‘Digital Assistant’ – Ve’s flagship ads to on-site engagement platform.
Divvit was founded in 2015 by founder and CEO David Linell. The platform currently tracks customer engagements online to identify the most effective digital marketing channels for over 350 online brands.
Once fully integrated with Ve, the platform will be the first realistically-priced data-driven attribution and insights solution in the market, as well as one of the world’s largest attribution platforms by transaction volume and by number of events tracked.
Ve Global CEO David Marrinan-Hayes said: “Data lies at the heart of Ve’s next stage of growth and is key in realising our vision to personalise online experiences at scale for an audience of one. Adding Divvit’s data insights to Ve’s growing digital infrastructure will enable us to increase transparency across the sales funnel, providing our clients with a greater understanding of a customer’s propensity to buy while enhancing their ability to drive up ROI from under-performing marketing channels.
“For the consumer, it simply translates into better experiences at the digital touchpoints they value the most. More broadly speaking, as our first acquisition this is a big landmark in the Ve Global story. I’m looking forward to welcoming Divvit’s technology and the invaluable insight their team of AI, data science, and revenue attribution experts will bring.”
Divvit founder and CEO David Linell added: “Revenue attribution to marketing channels and solutions is a critical challenge in the sector. For too long now, online merchants have been impeded in their ability to place real value on the digital touchpoints they use to drive sales because they lack the data-driven insights needed to properly attribute a sale across all touchpoints.
“Not only will Divvit’s integration into Ve’s unified solution solve this, the solution will be significantly cheaper than market alternatives such as Google 360 (approximately 90%). I’m excited about Divvit’s role within Ve, offering merchants a next generation customer and ecommerce platform to drive meaningful insight and significant revenues.”