Ecommerce company Ve has announced the acquisition of advertising business GDM Digital.
The deal, said to be worth $12m, will see all 42 of GDM’s staff retained and bring Ve’s total staff to over 500.
Ve’s platform helps ecommerce businesses acquire and convert customers more effectively.
GDM will now offer its clients the VePlatform on top of its current services. It currently works with a number of large multinational businesses, which include Microsoft, Lufthansa and IBM.
Growing in emerging markets
David J. Brown, CEO and cofounder of Ve, explained that GDM’s services are an ideal addition to Ve’s:
Digital advertising is becoming a big part of our business because of the natural affinity it shares with our other online conversion apps.
Ve is growing very quickly in emerging markets, particularly in Asia, where there is also a huge demand for ad tech services.
More comprehensive service
CEO and cofounder of GDM Digital Ed Stevens will join Ve as commercial director.
Stevens explained that together the two companies can offer a “more comprehensive” service.
Eventually, GDM will be absorbed into the Ve’s advertising service, VeAds.