Smartly.io, a marketing campaign automation firm specializing in social media advertising, acquired Ad-Lib.io, a UK-based EUR 2creative management platform, used by 10 of the top 30 global advertisers, for ~USD 100 million.

The acquisition is expected to extend Smartly.io’s marketing channel capabilities beyond the social media channels it currently specializes in to include Google products including Google Ads and Youtube, in which ad-Lib.io specializes. In addition, Smartl.io’s creative team would be able to leverage Ad-Lib.io’s creative management platform to create customized marketing campaigns.

The firm also reported that it had achieved an annual recurring revenue (ARR) of EUR 100 million (~USD 113 million).  

Analyst QuickTake: Social media advertising has been one of the fastest-growing segments within digital advertising, as firms reorient their marketing budgets in response to shift in consumer media consumption habits. Digital advertising is estimated to have accounted for ~64.4% of total global advertising spend in 2021, with 80% to 90% of ad spend estimated as coming in from Meta, Alphabet, and Amazon. Therefore, firms such as Smartly.io stand to benefit from this trend.