Connexity, a digital marketing company has announced its acquisition of Hitwise, a pioneer in large-scale online clickstream data collection and consumer behavioral analytics. The financial terms of the deal has not been disclosed. Hitwise will function as a subsidiary of Connexity.
The startup Hitwise offers digital marketers, publishers and agencies to understand, acquire and retain profitable customer segments by offering online consumer behavior, search marketing and competitive insights. The clients depend on Hitwise to improve the effectiveness of search, display, affiliate, email and social marketing campaigns. It functions in the USA, UK, APAC and Brazil with over 900 clients across industry sectors like retail, travel, financial services, advertising, media, technology and pharmaceuticals. The company mainly focuses on the optimizing the companies online multichannel marketing campaigns. It recently launched audience segmentation and behavioral analytics platform, AudienceView offers companies with a comprehensive view of demographic and psychographics filled behavioral insights on their target consumers.
“Hitwise’s shift from website analytics to audience-based analytics aligns perfectly with our audience activation approach at Connexity, which is focused on delivering highly-targeted audiences created from our expansive shopping network,” says Bill Glass, CEO of Connexity. “The combination of AudienceView’s clickstream and panel-based data with Connexity’s programmatic audience targeting will enable our customers to research, understand and identify their target audiences, and their behaviors, and eventually, in the same interface activate those audiences.”
Glass does not expect any layoffs from the acquisition. The merged company will have about 470 employees.”It is a revenue synergy and product innovation play, because the companies are doing very different things,” he said.
Once the company merges with Connexity, the retailers can use AudienceView to compare the demographics, preferences and web behavior of customers that shop at physical store to the ones that shop online and then to plan and decide the apt campaign to attract more customers. “Adding Hitwise extends the services we provide to retailers, marketers and agencies,” added Glass. “With AudienceView we help them simplify the process of identifying their customers, segmenting them and then activating them with media.”
This acquisition which is Connexity’s fourth in the last two years, strengthen’s Connexity’s position as a digital marketing platform for retailers, brands and agencies. Hitwise will be added to a collection of established businesses consisting of retail product listings, voice of the customer feedback via Bizrate Insights and programmatic audience targeting. Also through this, Connexity gains entrance into Australia as well as AudienceView. For the marketers, the biggest opportunity from this acquisition is the ability to ease the customer path through a combination of AudienceView’s clicstream and panel-based data with Connexity’s programmatic audience targeting technology.