Last week, TechCrunch reported that Google was in talks to buy display advertising company Admeld for $400 million. Now, it looks like the deal has been closed.
Google announced Monday that it had signed a deal to officially acquire Admeld. Financial terms of the acquisition weren't disclosed, according to The Wall Street Journal, but people familiar with the matter estimated that the $400 million price tag was correct. If the deal passes regulatory scrutiny, it will be Google’s sixth-largest purchase to date.
“We often hear from major website publishers that ad management today is still mind-numbingly complicated and inefficient. We’ve been investing in our publisher tools to try and improve this landscape and have made great progress, but we think we can do even better,” Google’s head of display advertising, Neal Mohan, said in a company blog post Monday. “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.”
Mohan added that after the acquisition, Admeld “will continue to support other ad networks, demand side platforms, exchanges and ad servers, to yield the best possible results for publishers.”