Ad retargeting platform, Magnetic, and enhanced personalization agency, MyBuys, merge to become one company. These two entities were well respected in their own marketing niches, but together they hope to become a powerful marketing agency. The combined company will operate under the name of Magnetic and under the leadership of CEO James Green, who was the CEO of Magnetic. Rita Brogley, CEO of MyBuys will sit on the board of directors for the combined company.
They have not yet released all the details of this merger, but many experts believe it was for around $25 million in cash and other assets.
Green said of the deal, “We constantly hear from marketers that there are too many point solutions. Our merged product suite frees marketers from such traditional silos by bringing them together under one roof. It’s super exciting to be at the forefront of such a dramatic shift.”
Brogley also commented saying, “Very few companies benefit from such an exceptional set of data and technology assets. Together we have the opportunity to reshape the way marketers engage with people everywhere they shop, and at every stage of the customer journey.”
There is no official timeline on any changes that will be taking place, or even specifics on how this merger will impact the company and its employees. There will, however, undoubtedly be a lot of great new opportunities to take advantage of both of these great services under the one roof.
