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Deloitte Acquires Magnetic’s Artificial Intelligence Platform Business

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Increased investment in audience targeting and AI delivers smarter, personalized, and more effective customer engagement for clients

Deloitte announced the acquisition of Magnetic Media Online, Inc.’s artificial intelligence platform business. Magnetic is a marketing technology company headquartered in New York City. The acquisition signals the strategic importance of enhanced investments in AI, machine learning (ML), and audience data analytics. The acquisition will help make Deloitte Digital’s Experience Services platform both smarter and faster. It also signals the continued focus on delivering clients better data management capabilities, AI and machine learning-driven insights, and the ability to turn insights into action through Deloitte Digital’s creative capabilities and software alliances. This will allow for more relevant content, better customer experiences and more accountable growth for clients.

Read More: Oracle Retail Recognized as a Leader in Point of Service in Independent Research Report

“People’s expectations for how brands should interact with them are higher than ever. They expect companies to provide interactions that are both personalized and have real-time relevancy in every channel,” said Scott Mager, principal, Deloitte Consulting LLP and leader of Deloitte Digital’s advertising, marketing and commerce practice. “We’re helping our clients make the shift from siloed advertising and marketing to real-time cross-channel experiences that are consistent across media, web, mobile, social and in the call center, with a store associate, or at the register.”

“To enable an end-to-end experience, our clients need to collect, analyze, and integrate their audience and customer interaction data across the enterprise. By combining Magnetic’s audience data capabilities with Deloitte Digital’s customer data experience, we can help our clients do just this inside their own environment, designed to give them full control and transparency,” said Angel Hollis Vaccaro, principal, Deloitte Consulting LLP and Deloitte Digital’s Experience Services offering leader. “Add on Magnetic’s AI/ML capabilities alongside Deloitte’s software alliances, and you have real-time decisioning that can deliver the right content, to the right person, at the right time—across any channel.”

Read More: The Promise and Potential of AI for the Insurance Industry

Founded in 2008, Magnetic is a privately-owned adtech and targeting business driven by AI technology. Magnetic specializes in machine learning to determine the optimal channel, timing, message and content for each consumer interaction. Magnetic’s powerful AI platform analyzes the attributes of more than 350 million live user profiles alongside real-time inventory supply and bid opportunities to deliver high performing marketing campaigns.

“We are excited to have Magnetic’s product and engineering team join forces with Deloitte, and we know our unique machine learning expertise will help take customer engagement for marketers to a whole new level,” said Corey Ferengul, executive chairman and CEO, Magnetic. “We’re passionate about bringing cutting-edge solutions to clients and helping them succeed. Together, we will build on this commitment by helping brands of all sizes engage more effectively with their consumers and create positive, profitable, long-lasting customer relationships.”

Read More: Interview with David Sikora, Chief Executive Officer at ALTR

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