Kargo Acquires E-Commerce Ad-Tech Firm for $64 Million

Advertising-technology company Kargo Global Inc. has acquired StitcherAds, an ad-tech firm focused on driving e-commerce sales, for $64 million, Kargo said.

Kargo’s technology helps marketers buy ads that target certain types of consumers on the websites of hundreds of publishers, including on mobile and desktop devices. A growth area for the company has been in special ad formats meant to help retailers boost e-commerce, but Kargo’s offering wasn’t available on large social media platforms, said Harry Kargman, the company’s chief executive and founder.