AOL throws down $101 million to buy marketing tool Convertro

The tech giant snaps up another advertising-focused company -- this one helps brands and agencies figure out which ads most likely lead to customer purchases.

aolcanvlogo1cswagrdrgb.jpg
AOL

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 bought Adap.tv for $405 million, which is a video-ad marketplace, and in January it bought content-personalization company Gravity.

(Via The Wall Street Journal).

Tags:
Internet
AOL
About the author

Dara Kerr is a staff reporter for CNET focused on the sharing economy and tech culture. She grew up in Colorado where she developed an affinity for collecting fool's gold and spirit animals.

 

Discuss AOL throws down $101 million to buy marketing...

Conversation powered by Livefyre

Show Comments Hide Comments
Latest Articles from CNET
The 404 Show 1,624: Windows 10, Wet Hot American Summer, N++, vaporwave (podcast)