Sourcepoint, a privacy compliance platform for the digital marketing ecosystem, has acquired UK-based software technology firm RedBud. With the acquisition, Sourcepoint aims to provide deeper insights for buyers and sellers of media and data.
RedBud, founded in 2018, aims to provide transparency throughout the digital advertising ecosystem by ‘shining a light’ on the fragmentations that surround it. Sourcepoint will look to use the acquisition to provide publishers with the tools to engage with users on data and privacy, and to help brands to create a data repository across different user touchpoints.
“The acquisition of RedBud is a crucial step towards facilitating stronger digital citizenship for publishers, advertisers and all ecosystem players,” said Ben Barokas, Sourcepoint CEO. “Historically, media sellers have lacked visibility into third-party data processing activities on their properties; the RedBud team have been leaders in providing publishers with much-needed transparency.”
As a result of the acquisition, Co-founders Chloe Grutchfield and Rhys Denny will join Sourcepoint as product and sales leaders, respectively.
“Because the regulatory environment—and consumer attitudes towards privacy—are evolving in nuanced and specific ways, it’s incredibly important for media owners and buyers to have mutual visibility into market standards,” said Grutchfield. “RedBud’s diagnostic tools are a natural complement to Sourcepoint’s compliance platform. We are thrilled to join forces to continue to further our shared vision of a more transparent and sustainable media ecosystem for the benefit of publishers, advertisers, and consumers.”