Web-search giant Google Inc on Monday confirmed that it had penned a deal to buy online advertising optimization firm AdMeld Inc.
Google didn’t disclose the financial terms of the deal, but a report published by Techcrunch claimed that Google paid around $400 million to buy the start-up technology firm.
AdMeld Inc., which helps major publishers manage their online advertising space, is expected to allow Google to bolster its online display advertising business.
Speaking on the topic, Google Display Ad Vice President Neal Mohan said, "By combining Admeld's services, expertise and technology with Google's offerings, we're investing in what we hope will be an improved era of flexible ad management tools for major publishers.”
Online display advertisements normally appear in forms that include images that may be interactive. As per the US trade association “Interactive Advertising Bureau,” display-related online advertising revenue in the country totaled around US$10 billion during last year.