Shutterstock.AI, a newly-formed subsidiary of Shutterstock that will focus on data and insights, is acquiring three leading AI companies outside Silicon Valley:
- Pattern89 (Indianapolis)
A MarTech platform to predict creative performance with A.I.
- Datasine (London)
An AI platform that creates high performing ads.
- Shotzr (Denver)
Uses AdScore A.I.to enable automation, targeting and optimization.
The combined data-driven Shutterstock company will use AI and machine learning to give creatives a data-driven approach to selecting relevant content that resonates.
Spotting a pattern. This kind of acquisition strategy is becoming common for tech companies in traditional tech hubs like the Valley and NYC.
Ironclad recently acquired Indianapolis-based Pactsafe, which also helped them start their midwest headquarters.
Jobvite has purchased companies outside the Silicon Valley a few times. Once in 2017, with their acquisition of Indy-based Canvas, and more recently when they moved their headquarters to Indianapolis and acquired Pittsburgh-based JazzHR and NXTThing RPO.
Unvalley startups, take note. If you have your eye on acquisition, think about ways to align your company with potential acquirers in the Valley, or even complimentary products in your space.