Photo: Business Insider
New York advertising startup Clickable has sold to Syncapse, the companies announced this morning.After hearing about the news, we talked to two types of sources about it.
On-the-record sources, including Syncapse CEO Michael Scissons, and sources who prefer not to be named.
First some context:
- Clickable makes software companies can use to buy search advertising and social media advertising. It’s raised more than $30 million.
- Syncapse does SAAS and services for big enterprise, mostly analytics and data integration. Clients include Coke, Anheuser-Busch, Amway, and Chase. Syncapse started in the marketing business.
Here’s what we learned from Scissons:
- Syncapse bought Clickable for four reasons: 1) its product 2) its product’s sanction from Facebook 3) its leadership 4) to hire some of its engineers and sales managers.
- As a part of the integration, Clickable laid off 20 of its ~40 New York staffers. Syncapse will retain Clickable’s 100 or so technical people based in India.
Here’s what we learned from sources that prefer not to be named:
- The deal is more of a merger than a big acquisition.
- The price was less than $50 million, and involved mostly stock.