Convertro, based in Santa Monica, California, was founded in 2009, based on technology developed internally for an e-commerce site. It counts several large companies, including Comcast, Intuit and Live Nation, among its customers.
The deal provides AOL with yet another ad technology firm to strengthen their online marketing platform. In August last year AOL acquired video advertising platform Adap.tv for $405 million. In March, AOL announced it's new integrated online ad platform called "One" combining all of the Ad companies into one unified service.
“AOL is making advertising easier for marketers and agencies, as well as publishers,” said Tim Armstrong, Chairman and CEO of AOL. “Our agreement to acquire Convertro demonstrates our continued commitment to bring efficiency to the advertising industry through automation and machine learning. Our focus on the AOL Platforms business has positioned AOL for growth as the trend around programmatic advertising continues to transform the industry.”
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