This week Deloitte announced its acquisition of Magnetic Media’s AI Platform Business, further increasing its focus on Artificial Intelligence (AI) and Marketing Technology. Magnetic Media is a 10-year-old ad-tech firm that collects purchase intent information based on browsing habits and forms anonymous profiles used by Machine Learning (ML) technologies to find the optimal customer interaction across channels, timing and content.
This acquisition allows Deloitte to better position itself when competing with traditional ad agencies and alternative ad-tech companies by merging Magnetic’s targeting and ML tools with its software suite as well as its own data management system. It will also aid in improving its experience services platform by providing better data management capabilities and adding insights-driven by AI and machine learning. These new insights will no doubt be leveraged to create complete solutions in collaboration with their software alliances.
In its press release Deloitte recognizes that its clients have a lack of control over their own data and are at a loss facing consumers that are more than ever looking for hyperpersonalized interaction across channels and in real-time. The goal of this acquisition seems to be to remedy this situation by allowing Deloitte to create solutions for its clients to create better customer engagement that runs across all interactions. This technology can be applied throughout the customer journey from awareness through engagement, acquisition, and retention to generate higher customer loyalty and profitability rates.
Although terms of the acquisition have not been disclosed, it is known that in order to ensure a smooth transition Magnetic will hold on to its brand and offices. Magnetic will slowly transition its engineering and product employees to Deloitte Digital’s offices across the US.