Criteo set to acquire HookLogic
HookLogic's solution that powers search ads on retail and travel sites will continue to operate, says Criteo.
Criteo, the performance marketing technology firm that got its start in retargeting, has signed an agreement to acquire HookLogic.
Founded in 2004, New York-based HookLogic powers shopping ads on retail sites like Walmart, Best Buy, Target and Macy’s, giving manufacturers and brands a way to feature their products in search results to in-market consumers. The ads are priced on a cost-per-click basis, just like product search ads on Google and Bing. Manufacturers are able to see performance, including sales, at the product level in the HookLogic platform. HookLogic added a similar solution for travel, powering in-search ads for hotels on sites like Expedia, Travelocity and Hotels.com.
“With HookLogic’s acquisition, Criteo is adding a complementary performance marketing solution to its portfolio, focusing on delivering more value to brand manufacturers and retailers alike,” said Eric Eichmann, CEO Criteo. “We are excited to help develop the HookLogic platform with our own sophisticated technology and to bring their solution to marketers across the globe. Jon and his team at HookLogic are some of the best minds in performance advertising and we are thrilled to welcome them to the Criteo family.”
Jonathan Opdyke, CEO HookLogic, said of the pending sale, “Criteo’s global scale, extensive client base, unmatched technology and team provide a tremendous opportunity to rapidly accelerate HookLogic’s business and expand performance marketing solutions for our clients.”
Criteo says HookLogic’s solutions will continue to operate after the deal closes which is expected in the fourth quarter of Criteo’s fiscal year. The company’s webcast announcing the acquisition on Tuesday morning is available for replay.