LinkedIn By Data Gatherer Bizo For $175M
LinkedIn (NYSE: LNKD) announced it would purchase Bizo Inc for $175M. Bizo, according to Capital IQ, has been around since 2008 and "provides a business audience marketing platform that targets professionals in the United States and internationally". The platform collects information from corporate databases, business registrations, and online profiles as a means to provide traffic measurements for use by digital marketing platforms and deep audience analytics.
The company products, according to Capital IQ, are:
- B2B Ad Platform
- Bizo Audience Marketing Platform
- Bizo Data Solutions
- Bizo For Marketing Automation
- Bizo Retargeting
- Bizo Switchboard
- Business Audience Exchange
The deal, at $175M, is split between cash and stock. LinkedIn will give up 90 percent in cash and 10 percent in stock. The deal is expected to closed in Q3 2014 according to LinkedIn. Bizo team members are expected to join LinkedIn after the deal closes.
Russell Glass, Bizo Co-Founder and CEO, said Bizo has "been a LinkedIn partner for a while now and it became clear that our respective missions and cultures are really well aligned".
Shares of LinkedIn are trading up roughly 1 percent after hours to a high of $167.41.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.