French AI company Mistral is making its third acquisition this year and, via the takeover of Pimento, is entering the business of creating and optimising online marketing campaigns.
According to Konsulteer the deal structured as €3.6 million cash for 48% of Pimento, plus 244,786 new Mistral shares for the remainder, implying a €12.7 million total valuation.
Pimento targets marketers who want high-converting ads, including an editing workflow that turns results into campaign-ready output. The tool generates advertising messages based on a briefing, brand identity and historical campaign performance.
The deal shows that, 3.5 years after its founding, Mistral no longer wants to be just a builder of models that other providers deploy. It previously bought Oyeb (infrastructure) and Emmi AI (industrial simulation) and is positioning itself more as a supplier of business tools. That picture had already become clear this summer when it decided it would also host models from external AI developers.
Earlier this year Mistral picked up Austrian foundational-model startup Emmi AI (for an estimate €330 million, and French cloud deployment platform Koyeb.
Last week, Mistral announced that it has raised €3 billion in growth capital.
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