Multi-platform media company Hispanicize Media Group has acquired a "significant stake" in San Francisco-based firm Megan Media to further develop its AI platform that can support influencer marketing campaigns.
HMG describes itself as a firm for multicultural millennials and generation Z. It also owns and operates the Latino influencer network Dime Media.
By investing in Megan Media and its AI platform Athena Prime, it hopes to utilise machine learning algorithms and automation technologies to reach larger US Latino and multicultural audiences.
It also aims to use the tech to drive better engagement around sponsored branded content from its network of influencers, celebrities and publishers, as well as power content through social media platforms including Facebook and Instagram.
No precise terms of the deal between HMG and Megan Media were disclosed.
“This investment in artificial intelligence AI technology marks a significant, strategic step towards building HMG into a leading digital media company,” said HMG CEO Joe Uva (pictured).
“We believe that Athena’s application advanced machine intelligence technology will create significant opportunities to transform our business, particularly among the millennial and Gen Z Hispanic audience, who are extremely active on mobile and value personalized recommendations, product reviews and references to drive purchase.”