AOL Acquires Convertro to Make Advertising Easier
Leading online content services company AOL Inc. (NYSE:AOL) announced Tuesday an agreement to acquire Convertro Inc., a leading provider of multi-touch attribution modeling technology for brands and agencies.
According to AOL, Convertro helps marketers and agencies maximize their return on advertising spend across online and offline media channels through granular insights into each channel, format, ad creative and audience segment.
This transaction follows the recent announcement of ONE by AOL, a programmatic enterprise platform that will drive brand insight and actions across all screens including linear and connected TV, all formats, and all inventory.
Convertro will provide AOL’s customers with the ability to manage the consumer journey across the entire purchase funnel and across all channels, driving economic efficiencies and media effectiveness, says AOL.
“AOL is making advertising easier for marketers and agencies, as well as publishers,” said Tim Armstrong, chairman and CEO, AOL.
AOL has agreed to acquire Convertro for a closing purchase price of approximately $101 million.
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The aggregate purchase price is comprised of approximately $89 million in cash funded at closing plus approximately $2 million in converted stock awards and a $10 million earn-out, payable over a period of up to 17 months subject to satisfaction of certain product development milestones.
“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 Jeff Zwelling, CEO, Convertro.
Customers can garner access to Convertro in one of three ways: through AdLearn Open Platform (AOP) or Adap.tv; as a standalone attribution modeling tool; or through ONE by AOL when launched, which will feature Convertro’s attribution modeling capabilities.
Photo courtesy: Convertro