GSI Commerce’s marketing services unit has made its first acquisition under Chris Saridakis, who was hired away from Gannett (NYSE: GCI) to run the division in mid-April. The company has bought ad retargeting startup FetchBack, which lets sites deliver targeted messages to visitors after they have left. TechCrunch cites a source who puts the purchase price at $40 million.
In a release, Saridakis claims “retargeting is far more effective than traditional display advertising” and says the acquisition is part of a “strategy to expand GSI’s marketing services capabilities,” which already include e-mail marketing and a full-service digital agency. In hiring Saridakis, GSI Commerce had said it planned to add new marketing services business lines and also pursue acquisitions.
The FetchBack deal marks the second major acquisition for GSI Commerce in less than a year; in October, it agreed to pay up to $350 million for Retail Convergence, the parent of invitation-only, discounted luxury shopping site Rue La La and discount shopping site SmartBargains.