Criteo announced today that is has acquired Tedemis, a real-time opt-in email marketing solution solutions startup, for €17 Million in cash and €4 Million based on hitting certain agreed milestones. Found in 2006, the Paris-based company will help evolve Criteo’s offering, which saw record revenue last quarter – Criteo currently offers CPC advertising solution on the web and mobile, and Tedemis will allow their offer to expand to email.
“We are excited to join the Criteo team and contribute to the company’s strategy of providing solutions that meet advertisers end-to-end performance marketing requirements.” Antoine Devos; CEO and Co-founder of Tedemis.
A lot of people have been watching to see what Criteo would do with all that IPO cash – more importantly, whether they would fulfill their prophecy and acquire French companies, essentially contributing to the ecosystem. France’s lack of exit opportunities has long been a weak-point; however, if this first acquisition is any indicator of how far Criteo sees its advertising offer developing, then there are plenty of startups that may become acquisition targets.
Criteo’s main R&D team is based in Paris – we checked out their offices last December – and it looks their team just got a bit bigger.