Quotient Technology Acquires Adtech Startup Ubimo

New York-listed digital marketing company Quotient Technology Inc. has acquired New York and Tel Aviv-based adtech startup Ubimo Ltd., the former announced Wednesday. While the financial details of the acquisition were not disclosed, one person familiar with the matter who spoke with Calcalist on condition of anonymity estimated the acquisition at tens of millions of dollars.

As part of the deal, Ubimo’s team will be integrated into Quotient, according to a statement.

Founded in 2012, Ubimo develops location intelligence technology that offers advertisers extremely precise location-based ad targeting, allowing them to target people attending a certain event or venue. The company has raised $10 million to date and employs a team of 50 people.