Gunderson Dettmer client and automated vendor marketing platform PromoteIQ has announced its acquisition by Microsoft.

In the announcement of the acquisition, Alex Sherman and Peter Schwartz said, “Our combined entities have a tremendous opportunity to redefine and deliver the next generation of vendor marketing to retailers and brands. Microsoft brings industry leading AI and machine-learning capabilities, as well as a strong global retail market footprint. We’ll have more plans to share on this front in the coming months, but we are confident that this acquisition will accelerate PromoteIQ’s growth and expand Microsoft’s reach and scale globally.”

The Gunderson Dettmer deal team was led by Adam Reuben and John Olson and included Lisa Gorrin, Aaron Rubin, Cindy Douthwaite, Janice Lee, Angela McCray, Piper Miles-Coccaro, Cassie Averbuch, Laura Chao, Amanda Ferber, Alexa Haertel, Emily Lieberman, Vikki Nguyen and Jace Clegg.