Bidding platform Koddi buys a hotel ad tech division from Criteo
Criteo, which bought performance marketing service HookLogic in a $250 million deal in 2016, has sold HookLogic's non-core hotel-focused services to bidding platform Koddi.
Koddi, a bid automation platform mostly in travel metasearch that’s based in Dallas-Fort Worth, has acquired the travel performance-marketing business of Criteo, a publicly held French digital advertising company that delivers online ads for brands.
In October 2016, Criteo bought HookLogic, which does performance marketing, in a $250 million deal.
HookLogic has primarily helped retailers buy sponsored listings for consumer products such as shoes, smartphones, and bags, across its network of retail commerce sites and apps. It had raised around $40 million in venture funding from firms like Bain Capital Ventures.
Criteo is only passing to Koddi its non-core hotel-focused services and employees. Criteo retains HookLogic’s retail-focused business.
Separately Criteo has a large retargeting business, including for travel brands like Expedia, that it will also retain.
Read original article