VERVE Completes Acquisition of Sense Networks’ Software and Intellectual Property Assets from YP, LLC
NEW YORK, July 11, 2017 /PRNewswire/ — Verve™, the global leader in location-powered mobile marketing, today announces its acquisition of both the mobile location software and intellectual property assets of Sense Networks, which was previously acquired by YP, LLC. Under the terms of the deal, which closed on June 28, 2017, Verve assumes ownership of the Sense Networks complete source code and patent portfolio which will be instrumental in enriching Verve Kinetic™, the location intelligence that forms the foundation of the Verve Velocity™ platform, as well as Verve Momentum™, the analytics and visualization suite.
These combined assets will augment key areas of the core Verve business. First and foremost is the ability to profile devices to turn disparate data signals into actionable insights which in turn inform highly refined audience segments. Equally important is the capacity to contextualize behavioral insights with place data to drive personalized recommendations for promotions and coupons. Together, the software and patent families complement Verve’s existing data science and platform inventions in the location mobile category and underscore Verve’s dedication to continuous innovation.
Sense Networks’ pioneering machine learning technology, comprised of bidding, targeting and measurement components, remains as relevant today as when it was originally introduced to the mobile marketing industry. The body of patents, granted between 2012 and 2017, also remain at the vanguard of a highly competitive mobile market. The Sense Networks’ complete collection of assets will enhance Verve’s ability to help its customers gain the greatest possible value from their mobile marketing investments.
“I’m very excited to incorporate these revolutionary location intelligence assets into the overall Verve platform,” said Tom Kenney, CEO at Verve. “Location is one of the most complex and continually changing aspects of mobile, and this acquisition demonstrates our commitment to seeking out the best and most modern opportunities to keep our platform at the forefront of the vast mobile marketing market.”
According to Brian Crook, Verve’s Chief Product Officer, “Verve Kinetic™ mines a fast-evolving world of location signals to capture, interpret, and act upon real information about real people. These additions to Verve’s existing AI capabilities and patents will enrich our ability to super charge our clients’ mobile marketing efforts through leading data science techniques and location marketing technology.”
Verve Media Contact:
Chief Marketing Officer, Verve
Office: (917) 460-7188
Verve™ is a location-based mobile marketing platform that connects advertisers with consumers to deliver successful business outcomes. The company’s proprietary location intelligence, patented technology, premium mobile inventory, and analytics capabilities empower marketers to identify, reach, and engage consumers with compelling mobile advertising experiences. Headquartered in New York City, Verve has offices in San Diego, Washington, D.C., Chicago, San Francisco, Los Angeles, Denver, Detroit, London, Munich, and Eastern Europe. For more information, visit www.verve.com. Follow us on Twitter: https://twitter.com/vervemobile.