Monotype is making a big business move to expand its brand strategy portfolio.
The creative solutions provider announced Thursday that it intends to acquire Olapic, a visual marketing company, for an estimated $130 million. Olapic’s “Earned Content Platform” aids brands in analyzing, collecting and curating user-generated content via images and videos in their e-commerce experiences. In the process, brands improve their marketing channels and consumer engagement.
“Olapic will extend Monotype’s ability to help brands express their story and engage with customers in a richer, more impactful way. Our value has always been predicated on type, technology and expertise, and Olapic strengthens us on all three fronts,” Monotype CEO Scott Landers said. “Whether an ‘asset’ is type, branded emoji or chat, and now user-generated content, they all serve a similar purpose, which is to elevate a brand’s identity both online and offline.”
Acquiring Olapic will be a major foundation investment for Monotype’s brand solutions. The acquisition will allow the tech company to better assist brands with design and marketing in addition to its other creative applications.
“By joining a company with such a deep history working with prominent brands, we believe that we’ll be able to accelerate our go-to-market process by fueling and investing in continued innovation of our Earned Content Platform,” Olapic CEO Pau Sabria said. “We’re excited about the collaboration and new opportunities that will come from integrating our solution into the Monotype portfolio and expanding the reach of both Monotype and Olapic offerings into the marketing and design teams at some of the world’s most popular brands.”
Olapic will operate as a division of Monotype after the acquisition closes in Q3 2016.