[caption id="attachment_46200" align="alignleft" width="300"] An image from LinkedIn's announcement showing why it has decided to buy Bizo[/caption]
LinkedIn has acquired business audience marketing company Bizo for $175m (£103m), consisting of 10 per cent stock and 90 per cent cash.
Bizo, founded in 2008, offers a B2B display and social advertising platform, including proprietary data management and targeting technology. The acquisition appears to be an attempt by LinkedIn to boost its own ad offering, following the introduction of 'Sponsored Updates' last year.
“It’s exciting for us to bring Bizo’s expertise and technology into our ecosystem,” said Deep Nishar, LinkedIn’s SVP of Product and User Experience. “Our ability to integrate their B2B solutions with our content marketing products will enable us to become the most effective platform for B2B marketers to engage professionals.”
The acquisition is expected to close during Q3 2014, after which 'many members' of the Bizo team are expected to join LinkedIn.