AOL is upping its ante on online advertising with a $101 million acquisition of big-data online marketing tool Convertro.
Best known for assisting brands and agencies figure out which kinds of ads best result in consumer purchases, Convertro examines a whole host of ads, including banner ads, sidebar ads, and even TV and radio ads. Its customers include Comcast, Intuit, Live Nation, and more.
AOL said Tuesday that the acquisition will make it easier for customers to see relevant content more efficiently, as well as help advertisers spend more effectively.
"AOL is making advertising easier for marketers and agencies, as well as publishers," AOL CEO Tim Armstrong said in a statement. "Our agreement to acquire Convertro demonstrates our continued commitment to bring efficiency to the advertising industry through automation and machine learning."
For the deal, AOL agreed to pay $89 million in cash at closing, plus another $2 million in converted stock awards. Additionally, a $10 million earn-out will be paid out if product development milestones are met within 17 months.
AOL snapped up a couple of other advertising-focused companies as of late. Last August it, which is a video-ad marketplace, and in January it .
(Via The Wall Street Journal).