Globe and Mail sells AI analytics platform Sophi to Mather Economics
Mather Economics says it has acquired artificial intelligence-driven analytics platform Sophi Inc. from the Globe and Mail. The Globe and Mail newspapers are seen in Ottawa, Friday, Dec. 1, 2017. THE CANADIAN PRESS/Adrian Wyld
The Canadian Press
Published Tuesday, August 22, 2023 6:24PM EDT
Last Updated Tuesday, August 22, 2023 6:24PM EDT
Mather Economics says it has acquired artificial intelligence-driven analytics platform Sophi Inc. from the Globe and Mail.
In a release, the subscription management company's president Matt Lindsay says the purchase will grow its range of services to publishers looking to ramp up their digital transformation.
The two parties did not disclose financial terms of the deal, which closed last Friday.
The Sophi platform, developed by the Globe and Mail after it launched a metered paywall in 2012, aimed to shore up revenue for news outlets as advertising money migrated to search engines and social media.
First used internally and later at other newsrooms, Sophi's AI algorithms predict which stories and videos are pertinent to which readers in a bid to boost subscription earnings.
Mather Economics, an Atlanta-based subsidiary of Belgian media group Mediahuis, says the acquisition will give it a strong presence in Canada, on top of its relationship with more than 600 clients in the United States and Europe.
This report by The Canadian Press was first published Aug. 22, 2023.