Oracle buys Tel Aviv start-up Crosswise for $50 million
Israeli company developed cross-device ID system to help target consumers
US software giant Oracle Corp. has acquired Israeli big data company Crosswise. No financial details were disclosed about the acquisition of the Tel Aviv-based company, but Israeli media reports say that Oracle is paying $50 million.
Crosswise has developed a cross-device identification system based on big data, data science and machine learning that identifies which PCs, phones, tablets, digital TVs and other connected devices are being used by individual consumers. This, according to Oracle, “enables marketers and premium publishers to realize the benefits of cross-device advertising, personalization and analytics.” In other words, it helps advertisers target appropriate consumers.
The company was founded by CEO Steve Glanz, CTO Jonathan Seidner and VP R&D Ron Reiter. In September 2015, Crosswise raised $3 million in a Series A financing round from ZhenFund, Emerge, Giza Venture Capital, OurCrowd and Horizons Ventures.
In its release, Oracle said that Crosswise would become part of Oracle Data Cloud. “The addition of Crosswise further broadens the Oracle ID Graph to construct a complete view of consumers’ digital interactions across multiple devices.”
Oracle added, “Crosswise’s innovative technology processes over one petabyte of user and device activity data from billions of unique devices every month. By applying advanced data science and proprietary machine-learning techniques to this data, Crosswise constructs a new probabilistic Device Map matching multiple devices to individual users in an accurate, scalable and high quality manner.”
This is Oracle’s second acquisition in Israel this year. In February, Oracle, led by founder chairman and CTO Larry Ellison, acquired Ra’anana-based cloud software start-up Ravello Systems for $500m.