Time (TIME) Announces Acquisition of Mobile Survey Company Bizrate Insights
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Time Inc. (NYSE: TIME) announced its acquisition of Bizrate Insights, a voice of the consumer data company that specializes in developing rich consumer insights by extending its online and mobile surveys across partner sites. Bizrate Insights was formerly owned by Connexity, Inc.
This acquisition marks another step in Time Inc.’s transformation into a data-driven organization, and it will enable Time Inc. to generate incremental consumer subscription revenue across a range of its owned and operated brands as well as third-party products. The voice of the consumer data cultivated through Bizrate Insights’ survey platform will also broaden the suite of integrated marketing services Time Inc. can provide to its advertising partners. Bizrate Insights and Time Inc. have a longstanding relationship that will now be further formalized.
Time Inc. Chairman and CEO Joe Ripp said, “We are excited to announce the acquisition of Bizrate Insights. The company immediately expands the suite of Time Inc.’s direct-to-consumer marketing services and is an important step in broadening our customer acquisition, retention and activation capabilities.”
Bizrate Insights will be integrated into Time Inc.’s Synapse Group, Inc., an affinity marketing subsidiary based in Stamford, CT.
Synapse CEO Sebastien Bilodeau commented: “Bizrate Insights allows us to substantially expand our digital marketing services, creating additional consumer touchpoints to help our marketing partners.”
Leslie Dukker Doty, Executive Vice President of Time Inc. Consumer Marketing and Revenue, who oversees the operations of Synapse, added, “Bizrate Insights will significantly enable Time Inc. to further optimize our subscription business by enhancing our first-party data and by improving our contextual offerings to our customers.”
Bill Glass, CEO of Connexity, commented, “We have been partners with Synapse for many years and are excited to see our partnership evolve to a point where Bizrate Insights and its industry-leading customer feedback products can contribute strategically to Time Inc.’s vision.”
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