Matomy Media Group (LSE: MTMY), a digital performance-based advertising company, made strategic investment in Toronto, Canada-based performance email marketing and ad targeting company Maven Marketing Group Inc., which operates under the name Avenlo.
Matomy has acquired a controlling 70% interest in a newly formed company that has purchased the principal business activity and operations of Avenlo, with the option to acquire the remaining 30% of the company over the next three years.
The amount of the transaction was not disclosed.
Founded in 2012, Avenlo provides an email placement optimization platform that gives advertisers, agencies and media buyers multi-screen ad targeting capabilities that deliver awareness, engagement and consumer action across all devices. The Avenlo Connect Platform enables brand-safe email acquisition marketing campaigns on a cost-per-thousand impressions (CPM), cost-per-click (CPC) or cost-per-action (CPA) basis. The company works with marketing agencies and brands across various industries, including telecommunications, travel, finance, insurance, online services and retail.
Following the transaction, Avenlo will continue to be led by its three co-founders — Rafael Alter, Chris DeDiego and Freiman — who will work in synergy with Matomy’s global management team.