Criteo Buys HookLogic For $250 Million

Criteo, a France-based ad tech company, is going to acquire the eCommerce startup HookLogic for $250 million, according to Adweek.

The deal is expected to close in the fourth quarter, according to the report.

HookLogic runs targeted posts on eCommerce sites, like Macy’s, Target or Procter & Gamble, based on the history of the products consumers browse online.

Nespresso used HookLogic recently to buy a sponsored section on Macys.com that drove traffic to a landing page where consumers could buy its coffee-making machines. The brands pay to bid on those ads, and HookLogic splits the revenue for the ads with both the eCommerce site and the brand.

“We are thrilled to join the Criteo team, who share our passion for transparent, accountable and relevant marketing,” Jonathan Opdyke, CEO of HookLogic, said in a statement. “Criteo’s global scale, extensive client base, unmatched technology and team provide a tremendous opportunity to rapidly accelerate HookLogic’s business and expand performance marketing solutions for our clients.”

Criteo said that it plans to plug HookLogic’s ad-targeting software into its eCommerce sites to drive sales and traffic for retailers by using bidding predictions and product recommendations.

HookLogic is based in New York, has around 190 full-time employees and is expecting to generate $130 million in gross revenue in 2016. Criteo works with 12,000 advertisers and 17,000 publishers.

Criteo’s acquisition of HookLogic comes a day after Salesforce scooped up Krux, a data management startup, for $700 million.