Narayan AmmachchiU.S. advertising startup Adext has wrapped up a deal to acquire Mexico’s artificial intelligence (AI) and automation services provider MyCampaign.
MyCampaign offers automation platforms using data analytics and machine learning technology to automate the task of displaying advertisements on web pages frequented by potential customers.
For now, its AI manages and distributes ads on Google, Facebook, Instagram, and Twitter, with the company hoping to partner with Snap, Pinterest, YouTube, Bing, and Yahoo in the months to come.
The Mexican firm claims that it helps companies ‘eliminate the need for hiring expensive’ technical staff to carry out the job.
“We seek to replace coders, designers, marketers, and publicists with an intelligent system that does all the work through artificial intelligence and machine learning algorithms,” the Mexican firm stated in a press release.
In a statement, Adext stated that the Mycampaign acquisition ‘perfectly’ fits into its goal of penetrating the AI market, but did not disclose how much it would pay. Considering its previous statement, the Mexican firm is worth about $10 million.
Most of the senior executives of MyCampaign will join Adext following the deal, with the U.S. firm stating that it would focus on winning deals from small- and medium-sized enterprises that are trying to promote their products and services.
“We’re here to change the world and make it a better place by helping SMBs grow with the AI and automation technology required for them to be competitive, get more sales, increase their revenue and grow their businesses,” the company stated.
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