Crain’s Chicago Business has reported that the online marketing technology company, BrightTag, has acquired Signal, a digital marketing software company. The terms of the acquisition have not been disclosed, but the Crain’s report stated that “Signal, a four-person [sic] company, will be absorbed into BrightTag, which has about 100 employees.”
Since its founding in 2009, the Chicago-based BrightTag has grown dramatically, with a venture history of $50 million in funding. The company offers a cloud-based marketing platform that gives the world’s most renowned Internet retailers the ability to make real-time decisions on tag management by leveraging instant online data. Essentially, the company’s software solutions allows for overall management of tags and code that come from advertisers, ad placement networks, and other organizations that collect data on site visitors.
With the purchase of Signal, it seems that BrightTag hopes to expand its reach with products more suited for smaller business. The small software company (also based in Chicago) provides small- to midsize-companies with simple tools to allow them to run their marketing efforts via Facebook, Twitter, text message, and email.
According to Crain’s, the deal brings together Orbitz (one of the early, unofficial startup incubators in the city) alumni Mike Sands, CEO of BrightTag, and Jeff Judge, the founder of Signal. Just a day before the reported acquisition, BrightTag was selected as a winner of the 2014 Red Herring Top 100 North America awards.