LinkedIn announced Tuesday that it is acquiring B2B marketing platform Bizo for $175 million. Bizo uses data and targeting technology for multi-channel marketing programs, and counts AMEX, Microsoft and AT&T among its clients.
The acquisition is expected to close in the third quarter of this year, and is a combination of about 10 percent stock and 90 percent cash.
Bizo had been working with LinkedIn already as part of its API Partner Program. “It’s our goal to integrate Bizo’s offerings into our content marketing products to become a more powerful tool for brands that want to build stronger relationships with professionals,” wrote David Thacker, VP of product at LinkedIn. “Adding Bizo’s offerings into our portfolio of content and mobile products will allow us to offer a wider range of solutions to meet our customers’ marketing objectives.”
“Many members” of the Bizo team will join LinkedIn after the deal closes, according to the announcement. “We realized that our respective missions are incredibly well aligned, and we believe that combining forces will accelerate our ability to execute against the huge opportunities ahead,” Bizo CEO Russell Glass wrote of the deal.