MarTech News: Weekly Round-Up 11/11/20
by Holly Ripley, on 11 November, 2020
This week in MarTech: Adobe is set to acquire Workfront for $1.5 billion, Intel has acquired Cnvrg, a platform to manage, build and automate machine learning, Logiq completes the acquisition of Fixel AI and SalesLoft announces partnership with account-based platform 6sense
Adobe to acquire Workfront for $1.5 billion
Tech giant, Adobe has announced that it will acquire Workfront inc. for $1.5 billion. This will add a collaboration tool to Adobe’s Experience Cloud to expand offerings for its customer base while working from home.
The deal is said to close between December and next February and is reported to be Adobe’s fifth largest acquisition to date.
Workfront, the web-based work management and project management software based in Utah, will take its 3,000 corporate customers and 1 million users to the software super giant. Bloomberg earlier reported that the acquisition could come as soon as Monday.
“When you have an opportunity to work with the company that CMOs rely on to run their business, which is Adobe, and you’re a company like Workfront, that takes us forward years in terms of what we would have been able to accomplish on our own,” - Alex Shootman, Workfront’s chief executive officer.
Intel has acquired Cnvrg.io
Intel’s latest acquisition spree has led it to acquire Cnvrg.io, an end-to-end machine learning platform to build and deploy AI models at scale.
This deal is the latest of Intel’s recent acquisitions aimed to strengthen the company’s machine learning and AI operations. It was only last week that Intel announced the acquisition of software optimisation start-up, SigOpt.
Cnvrg.io was founded in 2016 and was valued at around $17 million in its last round. The company provides a platform for data scientists to build and run machine learning models that can be used to train, run comparisons and recommendations.
“We can confirm that we have acquired Cnvrg,” an Intel spokesperson said. “Cnvrg will be an independent Intel company and will continue to serve its existing and future customers.”
Logiq Completes Acquisition of Fixel AI
Global e-commerce and Fintech solutions provider, Logiq, Inc. has completed the acquisition of Fixel AI, a leader in AI-powered digital marketing technology which provides AI-segmented audiences across ad platforms.
Logiq takes another step closer to securing their goal of adding simplified marketing and critical privacy features to its AI-powered consumer intent engine which is designed for brands and premium publishers.
The new addition of Fixel will assist Logiq customers to address the evolving landscape of online marketing. As many marketers continue to rely on third-party cookies, new privacy regulations such as California’s Consumer Privacy Act (CCPA) and GDPR it makes this practice increasingly higher risk and lower value. The death of the cookie is also being enforced by major search engines, as Google has said to make cookies on its platform obsolete within 2 years.
“Fixel empowers marketing teams to optimise their campaigns in a customised way unlike any other marketing segmentation and retargeting solution on the market today,” stated Logiq CEO, Tom Furukawa. “This unique technology greatly complements and enhances our Logiq AI-powered consumer intent engine, which captures and directs consumers from multiple sources who are in the market to purchase a particular product or service. We have begun to introduce Fixel to our customer base of enterprises and major brands, and are already seeing a strong positive response.”
SalesLoft Announces Partnership With 6sense
SalesLoft, a leading provider of the Sales Engagement platform, today announced a partnership with 6sense, a leader in account-based sales and marketing platforms.
6sense helps customers understand prospective buyer behaviour, orchestrate multi-channel experiences across the buyer's journey, and gain insights on the challenges these buyers are trying to solve. By integrating with SalesLoft, sellers can use these insights to prioritise which accounts to engage and personalise communications based on buyer interest. Sellers can extract these insights from 6sense directly in their CRM, and then add key buyers into the appropriate SalesLoft Cadence.
SalesLoft continues to expand its ecosystem of technology partners; with over 90 technology integration partnerships that help customers achieve more from their workflows ensuring that Marketing and Sales are aligned throughout the sales process while increasing the potential for deals to close.
MarTech News Weekly Round-up – over and out.