Industry rumours suggest as many as half of Data.ai’s 400 staff have been laid off as a result of its acquisition by Sensor Tower.
That would put the departures at around 200, but this number is not confirmed. When asked, Sensor Tower said there would be a “a workforce reduction” but would not tell us how many staff were affected.
Sensor Tower also told us that “existing senior leadership will stay intact and manage the combined company”.
Posts from Data.ai staff on LinkedIn suggest talent from across the business have been laid off, taking in sales, FP&A, account management, product, operations, sales enablement, customer enablement and more.
The two companies announced the surprise acquisition on Monday, bringing to an end years of fierce competition between the two data providers. The terms of the deal were not disclosed, but the two companies combined will now have over 2,000 companies relying on the new entity for market data.
Sensor Tower also acquired Pathmatics in 2021, an ad intelligence company, and 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 acted as financial advisor and Simpson Thacher & Bartlett provided legal counsel to Sensor Tower for the transaction.
We will update this story if Sensor Tower provide any more information.
