Location marketing technology company has acquired a Dutch competitor, significantly expanding its presence in the global market.
The location marketing cloud platform provides businesses with control over their digital presence and online reputation, offering an accurate and consistent digital brand footprint. Additionally, it allows firms to manage interactions at the location level in real-time across various platforms including websites, mobile apps, store locators, search engines, maps, social media, and voice assistants.
The company has purchased Amsterdam-based Navads, whose technology supports over 800 brands, including global companies such as BP and McDonald’s. This acquisition, for an undisclosed sum, will enable the combined entity to support nearly 700,000 locations for over 1,500 customers.
Florian Huebner, co-CEO of the acquiring company, stated, ‘We’ve known Navads, and especially the executive team, for a long time. Their customer base, knowledge, and network in the global mapping industry will greatly contribute to the impact our platform has on local businesses. In partnering with them, we manifest our position as a global leader for local marketing and are excited to be building on their focus on supporting the developments in autonomous driving, augmented reality, and voice search and to introduce their clients to our services.’
To facilitate this acquisition, the company has also raised an additional $25 million investment as an extension of its Series B round, which was initially announced in February. Navads’ CEO Lex ten Veen expressed enthusiasm about the integration, stating, ‘We are excited to join the team. Navads, as a location technology company, has created a unique position in the global market for local search. The integration will result in greater value to our customers, partners, and the industry, forming one of the largest location marketing platforms in the world.’
This strategic acquisition and significant investment underscore the company’s commitment to expanding its capabilities and solidifying its position as a leader in the location marketing industry.