Digital company Vendasta rebounds from pulled IPO with second deal in two months

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Saskatoon small business digital tool seller buys U.S. advertising technology company MatchCraft for estimated US$50-million

The Saskatoon company, which sells digital tools to companies that serve small businesses, said Tuesday it had acquired MatchCraft LLC from New York media giant Advance Local Media LLC.

Last month, Vendasta also acquired CalendarHero, a small Toronto-based provider of artificial intelligence-powered scheduling software.one of Canada’s largest and most heavily funded private technology companies between Calgary and Toronto. Mr. King said given another recent sell-off in technology stocks, “looking back at the markets now it seems like [pulling the IPO was] the best decision ever in my life.” He said the company is “open to more acquisitions.”

Online ad spending rebounded last year after a rough 2020. In 2021, the U.S. digital advertising market expanded by about 35 per cent to US$162.4-billion and it is expected to grow by another 17 per cent this year,. Online ad spending is expected to get a boost this year from the Winter Olympics in Beijing, the men’s World Cup of soccer and the U.S. midterm elections, Forbes reported last month.

 

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