Sensor Tower has acquired its main rival Data.ai for an undisclosed sum.
The deal will allow Sensor Tower to “further broaden and create an industry standard solution in marketing intelligence,” the company said.
The terms of the deal were not disclosed, but the two companies combined will now have over 2000 companies relying on the new entity for market data. This will lead to significant gains in data accuracy and global coverage, Sensor Tower said.
Data.ai was founded in 2010 and has been competing with Sensor Tower for the same customers ever since. Sensor Tower said that has “challenged both companies to innovate and heighten the depth and breadth” of their products.
Sensor Tower also acquired Pathmatics in 2021, an ad intelligence company, and has added it to its suite of data tools. The addition of Data.ai will make it a clear market leader.
Bain Capital Credit led the financing for the transaction with follow-on from Riverwood Capital and a new investment from Paramark Ventures. William Blair & Company, LLC acted as financial advisor and Simpson Thacher & Bartlett LLP provided legal counsel to Sensor Tower in this transaction.
“Today we celebrate the beginning of a new and exciting chapter, not only for Sensor Tower, but for the digital marketing and mobile app intelligence industry as a whole,” said Sensor Tower CEO Oliver Yeh.
Data.ai CEO Ted Krantz added: “Since 2010, data.ai has helped some of the finest brands and publishers globally to optimize their mobile performance. This evolution offers the best path to innovation, more insights across more channels, and ultimately, more value derived by clients.”
