The technology company Sensor Tower, which examines the data in the mobile application market, made its first purchase. Sensor Tower officially announced that it has acquired the Pathmatics company. The terms of the agreement are not detailed, but according to the information obtained, this agreement includes a growth investment from Riverwood Capital to Pathmatics.
This acquisition will allow companies in the market to offer expanded digital and mobile advertising information to their respective customers, including new social information for TikTok, YouTube mobile, and Snap powered by Sensor Tower.
The companies will also offer digital TV analytics, expanded coverage for mobile apps and advertising analytics, and expand Pathmatics’ social and digital coverage globally.
They came together at a time when digital advertising was on the rise
Sensor Tower has been progressing very profitably within the industry since its launch. Although currently serving more than 350 enterprise-level clients for application and advertising intelligence products, it will continue to raise additional capital to further grow its business through recruitment, marketing and infrastructure investments.
With the acquisition of the Pathmatics company, Sensor Tower has added another company that is on the rise. Since its founding in 2011, the company has grown over 100% for its market intelligence business over the previous year. It currently has more than 250 brands, media, and advertising agencies as customers, as well as more than 7,000 users represented by its platform.
The two businesses are coming together at a time when digital advertising is on the rise due to changes in the market, partly attributed to the pandemic. As more businesses started operating online last year, advertisers increased their digital ad spending by 12.7% to $368 billion per eMarketer. According to the data, digital advertising is expected to account for 58% of media spending in 2021.
They will continue to grow and develop together
Going forward, both customer groups will be able to opt for the other company’s solutions, including mobile, social media, and digital analytics. In the longer term, the two companies will work together to bring more products to market for their more than 600 combined customers in 50 countries. These include Pathmatics’ effort to add Facebook, Instagram, Twitter, and other digital ad intelligence capture to Sensor Tower, as well as extend Sensor Tower’s data set with ad analytics beyond app installs.
These features will make the product more suitable for larger brands that examine all aspects of competitors’ campaigns, from how they advertise for app installs to building brand awareness.
Ramesh Venugopal, director of Riverwood Capital, made the following statement regarding the deal:
“The combination of Sensor Tower and Pathmatics provides a unique and valuable offering that allows customers to leverage a wide range of datasets with an increasing focus on consumer privacy and deep digital insights that leaders in every industry will need.”