Google Struck Deal to Acquire Admeld
Tuesday, June 14, 2021 4:18 AM

Google Inc. (Nasdaq: GOOG) has agreed to acquire online advertising company Admeld, a service that helps websites make more money from online advertising. It is the latest deal in Google’s buying spree of technology and talent to bolster initiatives outside its Internet search business, from social networking to mobile advertising.

The new acquisition will help Google to grab a larger share of the market for geographical display ads. It is also being called as the latest addition to Google’s ever-growing advertising arsenal. Google already sells the most advertising on the Internet. The company's total ad revenue is expected to surpass $30 billion this year, greater than the entire U.S. newspaper industry.

The terms or the financial value of the deal were not disclosed by Google, although TechCrunch reported last week that Google paid roughly $400 million, citing anonymous sources.

"Together with Admeld, we hope to make display advertising simpler, more efficient and more valuable," Neal Mohan, Google's vice president of display advertising, wrote in a Monday post on Google's blog.

Admeld's service is focused on marketing campaigns that promote brands and typically feature imagery. The format is known as display advertising, an area where Google Inc. has been gaining market share since its $3.2 billion acquisition of DoubleClick Inc. in 2008.

Shares of Google last traded at $504.73, down 4.77 points, or 0.94 percent on Monday.