Snap, the parent company of Snapchat, has reportedly acquired an ad tech startup that provides programmatic data analytics tools for marketers.

According to TechCrunch, citing sources, the technology and social media company quietly picked up Metamarkets for under $100m.

Metamarkets offers data tools to clients – which include Twitter, Oath, AppLift, and more – such as a data dashboard to measure campaign performance, an API to import programmatic data into other apps, inventory discovery, and bid monitoring.

The deal may not yet have completely closed, as people only gained knowledge of an agreement and plan of merger on 24 October. Although, should the deal be confirmed, it will be another step in Snap’s work to grow its advertising business.

Many marketers are still reluctant to hedge their bets with advertising on Snapchat. With the introduction of more tools, Snap can tempt more marketers to take the plunge and, at the same time, encourage those already advertising on its platform to spend more.

The acquisition revelation follows the introduction of a cross-platform conversion tracking tool on Snapchat, enabling marketers to track people across mobile, tablet and desktop owned online environments.

Join us at the 2017 Effective Mobile Marketing Awards Ceremony, taking place in London on Thursday 16 November, to mix with the industrys best and brightest, and raise a glass to the years best campaigns and solutions. To find out more, and to book your place, click here.