AOL Inc. has paid $101 million for Santa Monica’s five-year old Convertro, a programmatic platform developer whose service enables businesses to track the sales conversions of marketing campaigns.
New York’s AOL said in a press release that the aggregate purchase price includes roughly $89 million in cash and about $2 million in converted stock awards. A $10 million earn-out will be payable over a period of up to 17 months if certain product development milestones are met.
Convertro’s local ecommerce customers have included companies like LegalZoom, GameFly, TrueCar and ShoeDazzle.
The company’s tech platform will be folded into AOL’s new programmatic enterprise platform called “One,” which allows businesses and ad agencies to track consumer actions across all media.
“Convertro’s vision has always been to provide its clients visibility and recommendations on how their advertising investment works and how to improve that return on investment,” said Chief Executive Jeff Zwelling.
“Integrating with AOL is going to bring our leading technology into the hands of some of the world's leading and biggest advertisers.”
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Convertro Raises $5 Million in Series B Round
- News of the Week
- Rivals Feed Ad Revenue
- Silicon Beach Launch List: May 20
- Ad Tech Firms Drawing Attention as Acquisitions
- Direct Quotes
- Silicon Beach Report Dec. 14: Rubicon Project and Clear Channel Launch Programmatic Billboard Network
- Online Ads Not Looking So Good