Advertising tech firm Smartly snaps up London-based Ad-Lib for $100m
Advertising technology giant Smartly has snapped up a London-based Google advertising firm as it looks to broaden its reach beyond social media.
Ad-Lib, which provides Google-focused creative advertising services, was acquired by Helsinki-based Smartly for over $100m, the Wall Street Journal reported.
Smartly’s technology previously focused on providing paid social media advertising services across platforms including Facebook, Instagram and Tik Tok.
The acquisition signals a change of tack as the firm look beyond social media. Ad-Lib’s suite of technologies will now be integrated into Smartly’s platform.
Kristo Ovaska, Smartly.io CEO and co-founder, said: “Ad-Lib.io is a clear leader in the creative space by innovating on the mission-critical dimensions of workflow, automation, brand governance, personalisation and insight.
“Their knowledge of the Google stack is unmatched in the industry and combining that with Smartly.io’s deep understanding of Facebook and the social stack across creative, media and data allows us to now serve customers across all major digital channels.”
Smartly’s customers include Uber Technologies Inc., Under Armour Inc. and eBay Inc. and the company reportedly processes more than $3.4 billion in marketer spending each year.
Oli Marlow-Thomas, founder and president, Ad-Lib.io., said: “With brand marketers and agencies increasingly uniting their social and programmatic teams into integrated digital creative and media investment teams, this is a natural next step for both companies.”