Tech companies buy marketing agencies less often than the other way around. But performance marketing solution vendor Stirista did just acquire digital branding firm ZDI. Stirista combines its own identity data pool with email and ad buying systems, specializing in Connected TV.
Agency network Stagwell has purchased Apollo Program, a platform that collects customer behavior data. The acquisition will expand Stagwell’s existing pool of first party data. Apollo will become part of Stagwell Marketing Cloud, a suite of marketing tools for Stagwell clients. It’s part of the trend for marketing agencies to offer their own data and technology platforms.
Cathay AfricInvest Innovation Fund (CAIF), a Pan-African fund launched via a partnership between AfricInvest, a multi-asset investment platform in Africa and Cathay Innovation, a European-born but global-focused venture capital firm, has achieved a final close of €110 million.
The U.S. Senate has passed a bill that could potentially ban TikTok in the U.S. if its Chinese owner, ByteDance, does not sell its holdings within a year. The bill now goes to the President Biden, who has said he will sign it. Court challenges are likely to follow.