AOL has completed the purchase of marketing analytics firm Convertro in a deal that could rise to $101 million.
The bulk of the investment is made up of approximately $89 million in cash and $2 million in converted stock awards. An additional $10 million is on offer to the Santa Monica-based Convertro, providing it can achieve certain milestones, with this paying out over a period of 17 months.
Plan and optimise
Part of the deal will see a change in ownership for Convertro’s marketing analytics platform, which allows advertisers and agencies to plan and optimise their multichannel media in real time.
The service also offers users the chance to develop their understanding of conversions and learn how they can repeat certain processes for maximum success.
Speaking In light of the multi-million dollar acquisition, analysts say the purchase will enable AOL to offer better ROI for marketers and a more streamlined advertising service.
A need for simplification
Users can gain access to Convertro through a trio of AOL-owned tools - the AdLearn Open Platform (AOP), Adap.tv or the yet-to-be-launched ONE program.
Announcing the purchase, Tim Armstrong, chairman and CEO at AOL, hinted that simplifying the existing ad platform remains a prime focus for the company.
“AOL is making advertising easier for marketers and agencies, as well as publishers,” he commented. “Our agreement to acquire Convertro demonstrates our continued commitment to bring efficiency to the advertising industry through automation and machine learning.”
News of AOL’s latest investment comes just hours after its search rival Google announced a similar purchase, of analytics provider Adometry, for an undisclosed fee.