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:
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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.
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