Market Track, LLC, the leading provider of retail promotion, real-time eCommerce, and pricing intelligence solutions in North America, announced today that it has acquired Competitrack, Inc. from the company’s founder, Bob Moss. Bob will remain with the company, serving as an advisor to Market Track and its Board of Directors. Competitrack President, Ginny Tuckman, will remain in her role with the firm. Terms of the transaction were not disclosed.
JEGI CLARITY (www.jegiclarity.com) of New York, NY, the leading independent investment bank for the media, information, marketing, and technology sectors, represented Competitrack in this transaction and acted as its exclusive financial advisor.
Based in New York City, Competitrack is a leading provider of directly placed product and image advertising data across 22 media channels, including TV, print, radio, online display, online video, social, and mobile advertising. With more than 500 clients that span many of the largest brands in the world, Competitrack has become recognized as an indispensable resource for advertisers, analysts, and agencies that require exceptionally fast and accurate insight into media spending trends and creative messaging.
Commenting on the transaction, Market Track CEO Wayne Mincey said, “This combination will be incredibly valuable to clients of both firms. The unique media and content coverage that each of our organizations brings to this partnership will quickly allow clients from both companies access to a more comprehensive view of what is hitting the market and influencing their customers. As an example, Market Track plans to integrate Competitrack’s promotions-related TV, radio, and mobile coverage, while Competitrack clients will have access to Market Track’s internet ads featured on over 200 retailers’ websites, as well as deeper print and FSI coverage.”
Bob Moss, Competitrack’s founder, added, “This is terrific for both companies and their respective clients. We share a common culture, marked by a passion for serving clients, and a deep commitment to innovation, technological leadership, and product excellence. Both companies provide comprehensive market and media coverage, highly detailed datasets, and an understanding that speed of information is critical to the decision makers we serve. The combined expertise and complementary datasets of the two firms will enable us to offer what I am confident will be the strongest competitive tracking and analytics capabilities available.”
Ginny Tuckman, Competitrack’s President, said, “What is really exciting about this combination is that it will notably strengthen both companies’ product offerings and allow for even greater investment and innovation going forward. Our clients will benefit from a significant expansion in media coverage, the introduction of detailed online reporting, and the fastest cross-media competitive data available in the country.”
“Competitrack is exactly the type of company we were hoping to pair with Market Track when we first partnered with Wayne and his team last year,” said Josh Klinefelter, Partner at Aurora Capital Group, Market Track’s principal investor. “What we see here are two companies with highly complementary capabilities and the shared attributes of core intellectual property, a premier client base with extraordinarily strong renewal rates, and some of the highest Net Promoter Scores we have seen in the software and information services space. Together, we are highly confident that these two great companies will continue to innovate and bring additional insights to their customers.”
We couldn’t be happier with the outcome of our transaction – and with our decision to partner with JEGI CLARITY. We researched five firms in depth before choosing JEGI CLARITY because of their long experience in our space, their broad contact network, their realistic perspective on our prospects in the market and the optimal positioning for our firm. JEGI CLARITY delivered on every front. Their broad, high quality panel of prospective buyers included many that had never been on our radar screen. They helped us articulate a clear, strong message about our firm, and they expertly guided us through the many challenges and uncertainties that seem endemic to this type of process. Knowing that JEGI CLARITY was in our corner gave a great deal of confidence at every turn. We are very pleased with how our auction was conducted – and with the final outcome. Without any doubt, JEGI CLARITY was a superb partner.
Bob Moss, CEO & Founder, Competitrack