Similarweb Buys Chile's Admetricks

Similarweb has announced the acquisition of ad intelligence specialist Admetricks, whose software will now form the core of a new Similarweb Ad Intelligence product.

The acquired firm will now operate as Admetricks, a Similarweb company. Financial terms of the acquisition were not disclosed.

Similarweb's proprietary software helps clients understand online behavior, analyse traffic and view engagement statistics including the behavior of visitors to similar kinds of sites. Its technology aggregates hundreds of sources and applies advanced machine learning to analyse them. Last month it announced 2023 revenue up 13% to $218.0m, with adjusted operating loss slashed from $63.8m to just $4.8m, including a profit in the fourth quarter.

Admetricks was founded in 2012 in Santiago, Chile and remains best known in Latin America. Its products include Ad Intelligence, which provides estimates of competitor ad spending and results, and Media Planner, which assists with planning and budgeting for media campaigns. The buy will help Tel Aviv- and New York-based Similarweb to provide comprehensive data, analytics and optimization tools for digital marketing and advertising - and will be smoothed by the fact that Admetricks already has technical integration with Similarweb.

Specifically, Admetricks' technology will significantly improve Similarweb's capabilities in analyzing online display advertising, and boost its tools for understanding the overall strength of digital brands as competitors, partners and investments.

Baruch Toledano (pictured), VP and General Manager of Digital Marketing Solutions at Similarweb, comments, 'Like Similarweb's 2022 acquisition of the Rank Ranger SEO platform, we see the addition of Admetricks as adding to Similarweb's core strengths and allowing us to deliver a more well-rounded solution for marketers, publishers, and advertisers'. Similarweb CEO Or Offer adds: 'We look forward to taking Admetricks' capabilities global. Their existing customers include both regional and global brands selling into Latin America. We want to support this current book of business while also introducing them to the value of the broader Similarweb platform'.

Admetricks CEO, Felipe del Sol, who co-founded the company with CTO Patricio del Sol, comments: 'We are proud of what we have accomplished in the past decade and of showcasing that software created in Chile's growing tech community can have worldwide impact. We call our employees 'data lovers,' and we are honored to be joining Similarweb's larger family of digital data lovers who put that value into practice every day'.

Web sites: www.similarweb.com and www.admetricks.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.