Google’s early June purchase of the mobile ad company Invite Media cost the Internet search giant US$81 million in cash, according to AllThingsD. The deal gives Google yet another tool to use in its plans to take over more of the mobile device ad market.
“The team at Invite Media has developed technology that enables advertisers and agencies to use ‘real time bidding’ to buy display ad space, and to optimize display ad campaigns, across multiple advertising exchanges, all in a single interface,” according to Google.
The idea behind “real time bidding” is that advertisers get more flexibility in how and when their ads are shown. Google says the process lets companies “tailor their bids on an impression-by-impression basis, based on their own data, when bidding on websites that choose to make their ad space available through an advertising exchange.”
The deal means Google gains direct control over a display advertising bidding platform, which fits nicely with its own Android platform for mobile devices.
Google hasn’t commented on the price it paid for Invite Media. Presumably the company sees the deal as worth the cash investment.