LinkedIn is buying B2B ad tech firm Bizo for US$175 million.
The transaction, which sees a combination of 10% stock and 90% cash, is expected to be closed in Q3 2014.
“It’s exciting for us to bring Bizo’s expertise and technology into our ecosystem,” said Deep Nishar, LinkedIn’s SVP of product and user experience.
“Our ability to integrate their B2B solutions with our content marketing products will enable us to become the most effective platform for B2B marketers to engage professionals.”
“We have been a LinkedIn partner for a while now and it became clear that our respective missions and cultures are really well aligned,” said Russell Glass, Bizo’s Co-Founder & CEO.
“I couldn’t be more thrilled that we are coming together to accelerate our ability to reach professional audiences, nurture prospects, and acquire customers in truly powerful ways.”
David Thacker, vice president of product at LinkedIn, wrote on a blogpost that the acquisition is set to enhance LinkedIn's ability to offer B2B marketing platform for brands.
"We plan to incorporate Bizo’s Media Solutions and Multi-Channel Nurturing products into our portfolio, but don’t plan to carry over their Data Solutions business. Bizo will honor their existing contracts, but LinkedIn data won’t be made available to their grandfathered customers," he added.
Founded in 2008, Bizo offers technology and products that enable measurable display and social advertising programs specifically focused on professional audience segments.