Salesforce has announced the acquisition of Israel-based Datorama, a cloud-based AI (artificial intelligence) company.
While terms of the deal weren’t disclosed, reports suggest the deal could be worth approximately $800m (£602m), as the US sales and marketing cloud tech giant looks to keep pace with rivals such as Adobe and Oracle.
Datorama enables more than 3,000 leading global agencies and brands – including PepsiCo, Ticketmaster, Trivago, Unilever, Pernod Ricard and Foursquare, make sense of marketing data across campaigns and channels, to optimise their investments and activity.
Announcing the definitive agreement on the company’s blog, CEO Rang Sarig, said it was “a very exciting day” for Datorama.
“With Salesforce, we are excited to expand upon on our core mission — to help marketers integrate and gain insight from one single source of data truth,” said Sarig.
“Salesforce’s acquisition of Datorama will enhance Salesforce’s Marketing Cloud with expanded data integration, intelligence and analytics, enabling marketers to unlock insights across Salesforce data and the myriad of technologies used in today’s marketing and consumer engagement ecosystem.
“With one unified view of data and insights, companies can make smarter decisions across the entire customer journey and optimise engagement at scale,” he added.
News of the acquisition comes as the next chapter in ongoing narrative of ad tech consolidation in recent months, notably among some of Salesforce’s key competitors.
Just last month, Adobe completed its $1.68bn (£1.28bn) bid for Magento commerce, adding e-commerce technology to its Adobe Experience Cloud Platform, while earlier in the year, Oracle snapped up contextual advertising company Grapeshot and Datascience.com.
Meanwhile, July played host to a billion-dollar deal for AppNexus by AT&T, while IPG entered into a dizzying agreement for intent-based data marketing company Acxiom.
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