LinkedIn said Tuesday it has agreed to purchase Bizo, a business marketing company, to bolster its advertising offerings.
In a statement, LinkedIn said it will pay about $175 million for Bizo, a company that makes technology for display and social advertising focused on business customers. The company boasts "proprietary" data management and targeting technology, Linkedin said.
LinkedIn said the company's technology will help to bolster its existing advertising division, which pulled in $101.8 million under its "marketing solutions" group last quarter. The deal will be 90 percent cash, LinkedIn said, and should close in the third quarter.
The move is the latest among social-media companies, which have been increasingly focusing their efforts on advertising. Twitter in June, a mobile-advertising technology firm, and has been . Facebook as well has . And Pinterest has begun as well.