TEL AVIV - Similarweb Ltd. (NYSE: NYSE:SMWB), a digital intelligence company, has acquired 42matters, an app intelligence provider based in Zurich. The deal, announced today, aims to enhance Similarweb's data analytics offerings in the app market, which is projected to grow to $15.7 billion by 2028.
This acquisition brings 42matters' expertise in app store, engagement, and mobile SDK data to Similarweb's portfolio, promising to deliver more in-depth insights into app performance and user engagement. The integration of these advanced solutions is expected to benefit app owners by providing a clearer view of their apps' positioning against competitors and user interaction.
Or Offer, CEO of Similarweb, emphasized the acquisition as a strategic move to bolster their app intelligence capabilities and establish a stronger position in the digital intelligence landscape. The combined data and expertise from 42matters are anticipated to enhance business strategies and decision-making processes for app owners.
42matters brings to the table a comprehensive dataset that includes information from 12 app store platforms, over 2.1 million publishers, more than 2,600 SDKs, and upwards of 20 million apps. This extensive coverage is now part of Similarweb's Data-as-a-Service catalog, offering customers new integration possibilities for growth and operational strategies.
The acquisition also promises innovation in app development insights, particularly through the inclusion of mobile SDK data, which could give app owners a peek into competitors' technology stacks.
Andrea Girardello, CEO of 42matters, expressed enthusiasm about joining Similarweb, highlighting the shared vision for the future of app intelligence and the commitment to providing superior insights to customers. The collaboration is set to serve existing clients, including Comcast (NASDAQ:CMCSA) and Criteo, while also enabling a more holistic view of the digital landscape by integrating app and web data.
42matters will continue to operate under its name as a Similarweb company, and the financial terms of the acquisition have not been disclosed.
The information for this article is based on a press release statement.
InvestingPro Insights
In light of Similarweb's strategic acquisition of 42matters, it's pertinent to consider the company's financial health and market performance as it embarks on this integration. According to real-time data from InvestingPro, Similarweb currently boasts a market capitalization of $2.14 billion. The company's P/E ratio, which is a measure of its current share price relative to its per-share earnings, stands at 33.16, indicating investor expectations for future earnings growth.
One of the key InvestingPro Tips for Similarweb is that management has been aggressively buying back shares, which often signals confidence in the company's future prospects and a commitment to increasing shareholder value. Additionally, Similarweb holds more cash than debt on its balance sheet, providing a strong financial foundation for future investments and operations.
InvestingPro data also reveals that Similarweb has experienced a significant price uptick over the last six months, with a total return of 47.25%. This performance is a testament to the company's growth potential and the market's positive reception of its strategic moves, including the recent acquisition. For investors interested in deeper analysis and additional tips, there are 12 more InvestingPro Tips available, which can be accessed with an exclusive offer: use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
With analysts revising their earnings upwards and predicting profitability for this year, Similarweb is positioned to leverage its enhanced app intelligence capabilities to capture a larger share of the growing app market. The company's commitment to innovation and strategic acquisitions like that of 42matters could play a pivotal role in shaping its future trajectory.
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