Predictive market software firm Kenshoo has acquired software-as-a-service (SaaS) platform Adquant to bolster its social and mobile marketing offerings.

The two companies share an engineering-driven approach to innovation, and by combining their offerings, hope to provide best-in-class solutions for advertisers, agencies and developers across the globe.

Adquant, a Facebook Preferred Marketing Developer, delivers advanced solutions for mobile applications and customer lifetime value optimisation, with deep penetration within the gaming vertical. It will provide a strong complement to Kenshoos enterprise software, global footprint and operation scale.

With mobile ad spend expected to reach $32.7bn (£20bn) in 2014 and social ad spend predicted to hit $16.1bn, there is growing demand for marketing solutions in these key industries. Through the acquistion of Adquant, Kenshoo aims to quickly and efficiently expand its offering to address these needs, and accelerate its expansion into the worldwide gaming market.

“By joining forces, Kenshoo and Adquant are uniquely positioned to serve advertisers across all verticals and geographies with world-class digital marketing solutions,” said Yoav Izhar-Prato, co-founder and CEO of Kenshoo. “Injecting talent and technology like Adquants will ensure Kenshoo stays ahead of the pace in the most important industries and continues to deliver strong performance for our clients.”

“Companies in the marketing software industry continuously talk about the ideas of innovation and client focus; so pairing with a company like Kenshoo who actually delivers and shares our core values makes perfect sense,” said Joe McCormack, co-founder and CEO of Adquant, who will be joining the Kenshoo management team. “The resources and support of Kenshoo will help Adquant to build upon our foundation and drive further success for our clients. We look forward to leveraging Kenshoos expertise and sharing ours to make our combined solutions even better.”