Propel Media, Inc., a performance focused digital media and advertising company, announced its acquisition of DeepIntent Technologies, an integrated data and programmatic buying platform.
According to an 8K filing, to support the acquisition the company negotiated an amendment to it credit facility with HPS Investment Partners as collateral agent for the Lenders, and PNC Bank, National Association as administrative agent.
DeepIntent has developed a powerful data-driven approach to programmatic advertising that integrates into its data management platform traditional first-party data (such as client CRM data) and cookie-based third-party user data in order to build an enriched profile of a brand’s target audiences. These profiles are supplemented with real-time consumer interest data using DeepIntent’s proprietary Natural Language Processing (NLP) algorithms. With a deeper holistic view of each user’s interests and behaviors, DeepIntent’s Demand Side Platform accurately prices the value of each user with respect to the goals of the advertiser while simultaneously allowing brands to feel confident that their ads will only appear in a “brand safe” environment.
Marv Tseu, President of Propel Media said, “We are excited to be joining forces with DeepIntent’s founders, Christopher Paquette and Mohamed Nouh, and the entire DeepIntent team. We believe that DeepIntent is a very good fit with our current business and will augment what we do today as well as move us into new areas. This acquisition gives the Company the ability to supplement our current offerings with programmatic inventory to enhance our advertisers campaigns across all screens, including desktop, mobile, tablet and connected TV.”
Chris Paquette, CEO of DeepIntent said, “The future of digital advertising belongs to those companies who are able to consistently provide predictable performance and scale for their clients’ media investments. We’re thrilled to be joining the team at Propel Media and believe that their experience and reputation for delivering ROI for their clients, when combined with DeepIntent’s technology and access to scaled programmatic inventory, will generate significant returns for our clients.”