Microsoft acquires vendor marketing technology provider PromoteIQ
Microsoft continues its expansion with a new corporate acquisition. The Redmond giant has just acquired PromoteIQ, a leading provider of vendor marketing technology to online retailers and brands.
According to Microsoft Advertising Corporate Vice President, Rik van der Kooi, "PromoteIQ has pioneered the private marketplace approach to digital vendor marketing. PromoteIQ’s technology strategically complements Microsoft’s current retail advertising offerings, and together, we can enable retailers with a portfolio of technology solutions to modernize their e-commerce platforms and maximize their monetization opportunity."
PromoteIQ has been around for less than a decade, but the client list of this company headquartered in Soho, NYC includes big names such as Kroger, Kohl's, and Overstock.com. The acquisition will not erase the brand from the market — at least not for the time being — and PromoteIQ will become a division within Microsoft Advertising.
The financial terms of the deal have not been unveiled and there is no rumor concerning it to talk about. However, if you have any information regarding this deal that you would like to share with the rest of us, the comments section is always open.