PromoteIQ is a firm that specializes in marketing technology for online retailers and brands. Microsoft says PromoteIQ will remain operational under its own brand and will maintain its current clients. Microsoft will add support, including providing access to aritifical intelligence and machine learning technology.
In a blog post on its website, PromoteIQ's co-founders, Peter Schwartz and Alex Sherman, said they want Microsoft to help grow the brand.
“Our combined entities have a tremendous opportunity to redefine and deliver the next generation of vendor marketing to retailers and brands. Microsoft brings industry leading AI and machine-learning capabilities, as well as a strong global retail market footprint. We'll have more plans to share on this front in the coming months. We are confident that this acquisition will accelerate PromoteIQ's growth and expand Microsoft's reach and scale globally.”
While working as normal, PromoteIQ will be part of the Microsoft Advertising platform, which used to be called Bing Ads. Microsoft says it will work with the company to help retailers innovate their e-commerce.
“PromoteIQ has pioneered the private marketplace approach to digital vendor marketing. PromoteIQ's technology strategically complements Microsoft's current retail advertising offerings. Together, we can enable retailers with a portfolio of technology solutions to modernize their e-commerce platforms and maximize their monetization opportunity.”
Microsoft has been ramping up its acquisitions recently. At the end of last month, the company purchased BlueTalon, a data access control developer that creates solutions across platforms. In a blog post, Microsoft said the company will increase digital transformation solutions for customers.
“The IP and talent acquired through BlueTalon brings a unique expertise at the apex of big data, security and governance,” said Rohan Kumar, corporate vice president of Azure Data. “Together with BlueTalon, we are committed to help enterprises become data-driven companies in a secure and compliant manner. We're excited to welcome the BlueTalon team to Microsoft and can't wait to get started.”