LinkedIn to buy ad tech company Bizo for $175 million

New York: LinkedIn is spending $175 million to buy Bizo, a provider of advertising technology and measurement services aimed at professionals.

LinkedIn said Tuesday that it is paying 90 per cent in cash and the rest in stock for San Francisco-based Bizo. The deal is expected to close in the third quarter. Founded in 2008, Bizo lets marketers target professionals with ads they want them to see, and helps measure the effectiveness of the ad campaigns.

LinkedIn, a professional networking service based in Mountain View, California, has more than 300 million users. The deal comes a day after Yahoo Inc. announced that it is buying Flurry Inc., which helps companies make mobile apps and design mobile ad campaigns.

Shares of LinkedIn were unchanged in after-hours trading following the announcement of the deal. They had closed the regular trading session up $3.54, or 2.2 per cent, to $165.50.