Google has confirmed the acquisition of display ad management service provider AdMeld. The acquisition was first reported by TechCrunch, which reported that the company had acquired AdMeld for $400 million.
AdMeld offers ad space management services to publishers, allowing them to derive the most from their advertising space. Google reckons that the market for better ad management services has been taking rapid strides. The purchase of AdMeld will let Google offer simplified and more powerful ad services to its customers, which make up the bulk of Google's revenues.
“By combining Admeld’s services, expertise and technology with Google’s offerings, we’re investing in what we hope will be an improved era of flexible ad management tools for major publishers,” Google said in a blog post.
“Together with Admeld, we hope to make display advertising simpler, more efficient and more valuable, provide improved support and services, and enable publishers to make more informed decisions across all their ad space,” the company added.
Meanwhile, AdMeld CEO Michael Barret said that the companies will continue to operate independently in the market place while the acquisition goes through a regulatory review, and that they would not simply abandon their existing clientele.