Targeting technology company AudienceScience has acquired Latin digital marketing company Consorte Media. Consorte Media focuses on the Latin American and Hispanic market and is led by entrepreneur Alicia Morga. Terms of the deal were not disclosed. AudienceScience said that as a result of this acquisition, Consorte Media employees will become part of the AudienceScience team, and Consorte’s San Francisco headquarters will become the newest branch location of AudienceScience, which also has branches in New York , Seattle, Santa Barbara, London and Tokyo.
AudienceScience CEO Jeff Hirsch said in a written statement that the merger would combine the reach of Consorte with his company's targeting capabilities, "providing marketers with the ability to accurately target Hispanic consumers." Consorte clients include Best Buy (for a description of a campaign Best Buy did with Consorte click here.), Dealix and SendMe Mobile.
In an announcement released by AudienceScience today, the rationale behind the deal is explained in the fact that the Hispanic market is growing at a very high rate and underserved via online targeting technologies.
Latin Venture Capital Scene
Consorte is one of the relatively few venture capital backed Latin Media companies (most of the 2005 $10 million financing was provided by Sutter Hill Ventures). (In the Latin Digital media sector another example of a private equity/venture backed company is Batanga Ad Network and the last major transaction in the space was Fox (owned by News Corp: NYSE: NWS) 2007 acquisition of Directa Ad Network which previously had bought Guatemala’s Click Diario.)