What happened: Vancouver tech company set to expand with acquisition of Silicon Valley firm
Why it matters: PressReader’s purchase of News360 adds 30 more staff to its team
A Vancouver-based company known for its digital platform for newspapers and magazines will soon be digging deeper into its readers’ habits.
PressReader Inc. revealed this week it’s acquiring News360 Inc., a Silicon Valley firm specializing in content personalization and publisher analytics.
Terms of the deal were not disclosed.
Prior to the acquisition News360 already had an office in Vancouver as well as Moscow.
The deal sees PressReader add 30 more workers to its headcount.
The News360 app taps into more than 100 million unique readers each month, while it’s technology analyzes and attributes content from news stories that those readers consume.
PressReader said it plans to integrate News360’s natural language processing technology into its platform for 7,000 newspapers and magazines, allowing it to “hyper-personalize” the user experience by bringing up more relevant content to readers.
"By understanding each person's interests, and building advanced data science systems around content analytics, we will be able to give our millions of readers the trusted media they want, how they want it, when they want it, and where they want it, while building more audience intelligence into the data that drives our publisher and brand partnerships," PressReader CEO Alex Kroogman said in an August 20 release.
"The natural synergy between the two companies, in terms of technology, vision, and expertise, made the decision easy.”