A day before its quarterly results, AOL has announced another acquisition to beef up its ad tech operations. It is buying Convertro, a marketing optimization platform, for $101 million – $89 million in cash, $2 million in converted stock awards and a $10 million earn-out over 17 months. AOL says that it will be integrating Convertro’s service into AOL Platforms, covering services like Adap.tv, AdLearn Open Platform, and ONE.
AOL has snapped up marketing company Convertro for $101 million. The tech giant announced the acquisition on Wednesday. Convertro is a marketing analysis specialist which works out the kinds of adverts that result in the highest rates of consumer purchases, scrutiny spanning across banner and sidebar ads, as well as television and radio. Convertro’s customers include Intuit and Comcast. AOL said the buyout will streamline targeted and personalized advert creation, and will provide better rates of return for marketers and advertizers on their investments. The closing purchase price of Convertro is approximately $101 million, funded by $89 million in cash and $2 million in converted stock awards, as well as a $10 million earn-out paid out over 17 months if product development milestones are met.
