Ve, a London, UK-based ecommerce conversion company, acquired digital advertising company GDM Digital, for $12m.
The acquisition increases Ve’s client-base to more than 6,000 online businesses. GDM currently works with companies including Microsoft, Coral, Lufthansa, IBM, Virgin Active and Audi.
All 42 staff at GDM, led by Ed Stevens, CEO and co-Founder, who will join Ve as Commercial Director, will be retained bringing Ve’s total headcount to over 500, working in 18 offices worldwide.
GDM, which specialises in performance trading and real-time biddable media, will now offer clients the VePlatform to acquire, engage and convert customers at every stage of the ecommerce journey, in addition to a complete digital advertising service.
The staff from GDM’s London office will move to Ve’s offices in Farringdon and the company will continue to trade as GDM Digital for the short term. In the mid term, it will be absorbed into the VeAds offering. The deal also covers GDM’s office in Germany.
Led by David J. Brown, CEO and co-Founder, Ve works across 19 languages and within 47 territories. It has 18 offices worldwide. The acquisition follows the launch of its Japanese office, the sixth in Asia-Pacific following Shanghai, Singapore, Vietnam, Hong Kong and Melbourne.
FinSMEs
19/11/2014