Clearwater-based technology company Digital Media Solutions Inc. (NYSE: DMS) has completed its 14th acquisition.
DMA, one of the region’s largest privately held companies providing performance-based digital 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 through a commercialized audience activation, re-engagement and retargeting platform. Traverse Data’s technology helps advertisers identify new audiences that resemble their best customers and match emails to website shoppers for re-engagement.
“Effective and efficient advertising requires an understanding of your audience and an awareness of when they are actively in the market and ready to engage. DMS leverages real-time consumer intent signals to provide intelligence that defines the path and power of our advertising efforts. We are creating real-time personalization at scale to achieve very big results,” said Jason Rudolph, chief technology officer at DMS, in a press release on the acquisition.
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 allow DMS to better leverage the company’s existing data asset.
“The acquisition of Traverse Data is part of how DMS continues 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 in sync, we are able to better understand consumer intentions, including when they shop and what offers they want to see from our advertisers,” a spokeswoman said at St. Pete Catalyst in a report.
The acquisition is one of many 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 become a publicly traded company.
The following year, DMS acquired Aimtell, which works with Fortune 100 companies and dramatically increased DMS’s consumer intent signals.
Today, the DMS data asset includes 240 million registered US adults. DMS receives over a billion consumer intent signals per month.
A spokeswoman attributed the success and rapid growth to certain drivers such as growing existing and untapped markets, entering new verticals, investing in people and technology and pursuing mergers and acquisitions. .