Epicenter Experience is Stagwell Marketing Cloud's 3rd Acquisition in 2022, Adding Mobile and Location Data to its Evolving Data and Insights Stack
NEW YORK and BOSTON, Oct. 19, 2022 /PRNewswire/ -- Stagwell (NASDAQ: STGW), the challenger network built to transform marketing, has acquired Epicenter Experience (Epicenter), an enterprise software company that leverages mobile and location data to map and sequence complex consumer behavior patterns. Epicenter will become part of the Stagwell Marketing Cloud (SMC), a proprietary suite of software-as-a-service (SaaS) and data-as-a-service (DaaS) products built for in-house marketing teams.
Epicenter's proprietary cloud-based technology, The People Platform™, maps consumer visits to points of interest, and sequences them over time to deliver contextually relevant insights and a comprehensive understanding of consumer behavior in near-real time. It then allows companies to communicate with specific groups of consumers to receive additional direct response, or to deliver personalized messaging or value at scale, further enriching the brand-customer connection.
"We have strong momentum building around the Stagwell Marketing Cloud's insights and analytics capabilities, and we're excited to add Epicenter's location-focused platform as another supplement to our data stack," said Stagwell Chairman and CEO Mark Penn. "With this AI-powered technology, we can deliver more comprehensive data intelligence to brands, helping them more effectively drive customer acquisition and retention goals."
"With The People Platform we've built a tool that provides contextual awareness and behavioral understanding on a granular level, providing our clients with a connective tissue that they've come to view as a 'currency service.' We look forward to enhancing the SMC with this technology that can be applied within any industry," said Epicenter Experience CEO and Co-founder Paul Krasinski. "Through these direct-from-consumer learnings we empower our customers across retail, healthcare, consumer goods, sports, entertainment and more to create more valuable, more personalized connections to their audiences at scale."
SMC has been actively investing in emerging technologies and data-focused platforms as part of its strategy to serve in-house teams with transformative marketing technology capabilities. This is the SMC's third acquisition in the second half of 2022, following Apollo Program in July and Maru Group in October. Epicenter will continue to be led by its current leadership team including Co-founders CEO Paul Krasinski and CFO Lynne Lipinsky.
Terms of the deal were not disclosed.
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SOURCE Stagwell Inc.