Zoomd Technologies Ltd., a marketing tech engagement platform, is acquiring the artificial intelligence marketing platform Albert Technologies Ltd. The consideration for transaction payable by Zoomd is in both cash and shares paid.
Zoomd provides a platform and search engine to advertisers by consolidating over 600 media sources into one platform. Albert uses artificial intelligence to provide audience data for advertisers. The platform also uses Google and Facebook platforms to roll out advertising campaigns at a larger scale and speed. This acquisition adds Fortune 500 companies to Zoomd’s client base and upscales their marketing platform.
The share component of the consideration will be valued at the higher of the closing price of the shares on the date prior to their issuance and will be priced at $1 per shared. Zoomd did not assume any of Albert’s debt during the transaction. No finder’s fees were paid in connection with the merger.
Zoomd CEO Ofer Eitan said, “While we are also releasing some of our products onto a Self-Service and SaaS business model, Albert enhances our efforts immediately, with additional solid offerings that cover branding and awareness needs.”