Marin buys ad software firm for $22.8M

|About: Marin Software (MRIN)|By:, SA News Editor

Marin Software (MRIN) has bought Perfect Audience, a developer of software for running targeted ad campaigns on popular social/display platforms, for $22.8M ($5.4M in cash, the rest in stock).

TechCrunch observes that Marin's ad tech platform has had a strong search ad focus until now; acquiring Perfect Audience allows it to better tap into the fast-growing social and display retargeting markets (relies on activity on activity on 3rd-party sites/apps to deliver targeted ads).

Facebook, Twitter, and Google's DoubleClick Ad Exchange are among Perfect Audience's supported platforms. The company has focused on selling its offerings to startups and smaller ad agencies, but also has some larger clients such as Rackspace and American Apparel.

The acquisition arrives less than a month after Marin announced a CEO change.