The Clearwater-based tech firm Digital Media Solutions Inc. (NYSE: DMS) has made its 14th acquisition.
DMA, one of the largest privately-held businesses in the area that provides digital performance advertising solutions connecting consumers and advertisers, has acquired Traverse Data Inc.
Seattle-based Traverse Data generates new customers for advertisers and incremental revenue for publishers, via a commercialized audience activation, re-engagement and retargeting platform. Traverse Data’s technology helps advertisers identify new audiences that look like their best customers and match emails to website shoppers for re-engagement.
“Efficient and effective advertising requires an understanding of your audience and an awareness of when they’re actively in-market and ready to engage. DMS leverages real-time consumer intent signals to provide the intelligence that defines the path and the power of our advertising efforts. We’re creating real-time personalization at scale to achieve really big results,” Jason Rudolph, chief technology officer at DMS, said in a news release about the acquisition.
The financial details of the acquisition were not disclosed.
The addition of Traverse Data will scale the DMS data asset and accelerate the DMS technology roadmap, implemented to enable DMS to better leverage the company’s existing data asset.
“The Traverse Data acquisition is part of how DMS is continuing to grow its data asset and proprietary technology stack to increase consumer access to branded products, services, promotions and savings opportunities. When our data, technology and media are synchronized, we are able to better understand the intentions of consumers, including when they are shopping and what offers they want to see from our advertisers,” a spokeswoman told the St. Pete Catalyst in a statement.
The acquisition is one of several recent strategic moves DMS has acted on.
In 2020, DMS completed its business combination with Leo Holdings Corp. The deal, with an enterprise value of $757 million, allowed DMS to evolve into a publicly-traded company.
The following year, DMS acquired Aimtell, which works with Fortune 100 companies and dramatically increased DMS’ consumer intent signals.
Today, the DMS data asset includes 240 million opted-in U.S. adults. DMS receives over one billion consumer intent signals per month.
A spokeswoman credited the success and rapid growth to certain drivers such as growth in existing and untapped markets, entering new verticals, investing in people and technology, and continuing to execute mergers and acquisitions.