Posted Aug 22, 2023 6:24pm ET
Mather Economics says it has acquired Globe and Mail’s artificial intelligence-based analytics platform Sophi Inc. The Globe and Mail newspapers are seen in Ottawa on Friday, December 1, 2017. THE CANADIAN PRESS/Adrian Wyld
Mather Economics says it has acquired Globe and Mail’s artificial intelligence-based analytics platform Sophi Inc.
In a press release, Matt Lindsay, president of the subscription management company, says the purchase will expand the service offering for publishers looking to advance their digital transformation.
The two parties did not provide details on the financial terms of the deal, which was finalized last Friday.
The Sophi platform, developed by Globe and Mail after the introduction of a paid paywall in 2012, aimed to increase news outlets’ revenues as advertising money shifted to search engines and social media.
Deployed initially internally and later in other newsrooms, Sophi’s AI algorithms predict which stories and videos are relevant to which readers to drive subscription revenue.
Mather Economics, an Atlanta-based subsidiary of Belgian media group Mediahuis, says the acquisition will give the company a strong presence in Canada, in addition to its relationship with more than 600 clients in the United States and Europe.
This report from The Canadian Press was first published on August 22, 2023.
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