Monetate, previously one of Philadelphia’s flagship emarketing companies, will be acquired by Dallas-based cloud commerce company, Kibo, the companies announced.

The 11-year-old Monetate was founded in Philadelphia, but in 2017 moved its headquarters from its Conshohocken office to New York City, citing a need to be closer to clients based there. The move meant that about 15% of its workforce was laid off, but no official counts were released.

In the two years since, Monetate has gotten a new CEO, and its Conshy office has settled at about 130 employees.

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