Strategic acquisition to bolster Near’s privacy capabilities, and further the company’s expansion into the European market
Near, the world’s largest source of intelligence on people and places, announced it is acquiring Paris-based location intelligence platform, Teemo. The strategic acquisition of Teemo will enable Near to offer more advanced data intelligence products, including audience curation and data-driven marketing capabilities, to customers in the European market. The move will also help Near firmly establish its position to service global companies headquartered out of Paris.
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“The acquisition of Teemo is a prime example of our commitment to a privacy-centric approach in providing data intelligence on human mobility,” said Anil Mathews, Founder & CEO, Near. “Teemo enables Near to immediately deliver our joint capabilities into the European market. The Teemo team has a long history of bringing innovative solutions to global brands such as IKEA, Ford, Decathlon, Intermarché and many others. We look forward to having them continue their work as a part of the Near team.”
This acquisition reiterates Near’s stance on privacy led-design as Teemo is the first company officially declared GDPR-compliant by the French Data Protection Officer. The CEO of Teemo, Benoit Grouchko, will join Near’s executive team as its Chief Privacy Officer.
Joining forces will enable Near and Teemo to leverage their combined insights into real-world consumer behavior to provide brands around the world the intelligence they need to accelerate their digital transformation initiatives. Despite Covid-19, Near and Teemo have observed significant growth in 2020 and are accelerating.
“We are very excited to join the Near family with whom we share a common DNA of technology and performance,” said Benoit Grouchko, Founder & CEO, Teemo. “This will allow us to be stronger and to grow even faster, beyond the French market.”
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