Digital economy data provider Sensor Tower announced today that it has acquired market intelligence platform data.ai for an undisclosed amount. This deal will enable Sensor Tower to expand and create an industry-standard marketing intelligence solution.
This acquisition is a significant milestone for Sensor Tower as it represents an expansion of its customer base to include major brands like Microsoft, Sky, and Bandai Namco – which use data.ai’s mobile app intelligence tools. This is a strategic deal for Sensor Tower to significantly expand its APAC presence and work with additional Fortune 500 companies. And it is expected that the combination of Sensor Tower and data.ai will unlock major gains in data accuracy, global coverage, and breadth of product offerings to its combined 2,000+ enterprise customers.
This deal comes as consumers spend a lot of time socializing, playing, watching, and shopping across many digital channels. Last year, consumers spent $130 billion globally on in-app purchases. And this is expected to increase within the digital economy as major platforms like Google, Meta, TikTok, Instagram, and Snap invest heavily in user acquisition, retention, and monetization.
Sensor Tower’s acquisition of data.ai follows the successful acquisition of Pathmatics in 2021, which expanded its buyer personas and customer base by offering increased visibility into brand activity and advertising spend in the broader digital landscape. And Sensor Tower’s digital intelligence suite is powered by unique and differentiated first-party panel data, with insights delivered to customers on an annual subscription model.
Sensor Tower’s leadership team will remain intact and manage the combined company. Bain Capital Credit led the funding for this deal with a follow-on from Riverwood Capital and a new investment from Paramark Ventures. William Blair & Company acted as financial advisor and Simpson Thacher & Bartlett provided legal counsel to Sensor Tower in this transaction.
KEY QUOTES:
“Today we celebrate the beginning of a new and exciting chapter, not only for Sensor Tower, but for the digital marketing and mobile app intelligence industry. We have long admired data.ai’s stellar product and high quality team. The acquisition will allow Sensor Tower to broaden its audience and expand its best in class offerings to any company that participates in the digital economy – helping bridge the gap between companies and consumers.”
“As we unite Sensor Tower and data.ai, we are eager to incorporate new team members. This merger also necessitates optimizing our team structure. We are committed to providing assistance and resources to our departing colleagues during this transition.”
– Oliver Yeh, CEO of Sensor Tower
“Since 2010, data.ai has helped some of the finest brands and publishers globally to optimize their mobile performance. This evolution offers the best path to innovation, more insights across more channels, and ultimately, more value derived by clients.”
– Ted Krantz, CEO at data.ai
“We were excited to invest behind Oliver and the team in 2020 and continue to be impressed by Sensor Tower as they shape the future of how intelligence solutions can be used to make strategic decisions. We believe the combined company is now the gold standard for how data can deliver value to customers seeking to better understand and participate in the digital economy.”
– Jeff Parks, Co-Founder & Managing Partner, Riverwood Capital and member of Sensor Tower’s Board of Directors
“The trend of companies actively pursuing a holistic understanding of a consumer’s digital footprint has been a vision we have shared with the Sensor Tower team since day one. It has been incredible to see this pattern continue to emerge as more companies embrace a sophisticated multi-channel market intelligence approach.”
– Ramesh Venugopal, Partner at Riverwood Capital and member of Sensor Tower’s Board of Directors
“This merger isn’t just about scaling Sensor Tower’s global presence – it’s about amplifying the impact on the entire marketing industry’s ability to measure the digital economy, which the combination of these two entities now have made possible through deeper insights and improved product experience. We’re especially thrilled to support the team as they delve deeper into the dynamic APAC market, where the digital economy is booming.”
– Chunsoo Kim, Managing Partner at Paramark Ventures, a Seoul-based venture capital firm specializing in cross-border investments
“Riverwood and the Sensor Tower team have built an excellent business with unique technology, and we’re thrilled to be partnering with them to support the acquisition and the company’s next phase of growth.”
– David Healey, Director at Bain Capital Credit
