Magnetic Media Online, Inc.’s artificial intelligence platform business is acquired by Deloitte. Magnetic is a marketing technology company headquartered in New York City.
According to the official announcement, the acquisition signals the strategic importance of enhanced investments in AI, machine learning (ML), and audience data analytics. The acquisition will help make Deloitte Digital’s Experience Services platform both faster and smarter. It also signals the continued focus on delivering clients better data management capabilities, AI and machine learning-driven insights, and the ability to turn insights into action through Deloitte Digital’s creative capabilities and software alliances. This will allow for more relevant content, better customer experiences and more accountable growth for clients.
Scott Mager, Principal and Leader of Deloitte Digital’s Advertising, Marketing and Commerce Practice said,
People’s expectations for how brands should interact with them are higher than ever. They expect companies to provide interactions that are both personalized and have real-time relevancy in every channel. We’re helping our clients make the shift from siloed advertising and marketing to real-time cross-channel experiences that are consistent across media, web, mobile, social and in the call center, with a store associate, or at the register.
Angel Hollis Vaccaro, Principal and Deloitte Digital’s Experience Services Offering Leader commented,
To enable an end-to-end experience, our clients need to collect, analyze, and integrate their audience and customer interaction data across the enterprise. By combining Magnetic’s audience data capabilities with Deloitte Digital’s customer data experience, we can help our clients do just this inside their own environment, designed to give them full control and transparency. Add on Magnetic’s AI/ML capabilities alongside Deloitte’s software alliances, and you have real-time decisioning that can deliver the right content, to the right person, at the right time—across any channel.
Esablished in 2008, Magnetic is a privately-owned adtech and targeting business driven by AI technology. Magnetic specializes in machine learning to determine the optimal channel, timing, message and content for each consumer interaction. Magnetic’s powerful AI platform analyzes the attributes of more than 350 million live user profiles alongside real-time inventory supply and bid opportunities to deliver high performing marketing campaigns.
Corey Ferengul, Executive Chairman and CEO at Magnetic also commented,
We are excited to have Magnetic’s product and engineering team join forces with Deloitte, and we know our unique machine learning expertise will help take customer engagement for marketers to a whole new level. We’re passionate about bringing cutting-edge solutions to clients and helping them succeed. Together, we will build on this commitment by helping brands of all sizes engage more effectively with their consumers and create positive, profitable, long-lasting customer relationships.
Magnetic’s product and engineering employees will join Deloitte Digital’s Experience Services group based across a variety of offices.
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including more than 85 percent of the Fortune 500 and more than thousands of private and middle market companies. Our people work across more than 20 industry sectors to make an impact that matters — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthy society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them.
Magnetic is an artificial intelligence company that uses machine learning to deliver smarter, faster and, more effective advertising. Our powerful AI platform continuously analyzes the attributes of 350 million live user profiles alongside real-time inventory supply and bid opportunities to deliver highly performant and profitable campaigns for our clients. Magnetic offers products and solutions to meet the needs of any media buyer, from fully managed service solutions to our completely automated and transparent self-serve media platform, Magnetic Force.