MyBuys to acquire Veruta to expand personalization tools
Marketing services firm My Buys has acquired Veruta, an ad network optimization company, for an undisclosed sum.
My Buys' strategy is to expand its “predictive remarketing” portfolio to include personalization and recommendation tools for banner ads, said Robert Cell, CEO of the company. It specializes in personalization tools for retailers, using email, e-commerce and direct mail.
“Veruta's dynamic display remarketing and real-time spend optimization platform will allow us to add personalization services to predictive, dynamic and personalized display ads,” Cell said.
MyBuys will move Veruta's offices within Silicon Valley, from San Jose to Redwood City. Cell said there will be no layoffs as a result of the acquisition.
E-commerce firm Scentiments, a MyBuys client, is using the personalized banner ads as part of its online marketing mix. Howard Wyner, CEO of Scentiments, said the firm uses the technology to make recommendations to consumers.
The tools recommend complimentary product suggestions when a consumer browses Scentiments' site. The site also retargets consumers through email.
Wyner said Scentiments may test the MyBuys direct mail tool in the future.
“If we know that a consumer is browsing perfumes on our sites, and they haven't made a purchase, it might make sense to drop them a post card with a coupon to get them to come back to the site,” he said.