The ad expenditure maximization company has a Ra'anana development center.
AOL Inc. (NYSE: AOL) has announced the acquisition of Covertro for $101 million. Headquartered in Santa Monica California, the company has a development center in Ra'anana with 15 employees.
Following the acquisition, Convertro's employees will join AOL's development center in Israel. However, it is unclear whether the Israeli employees will be moved to AOL's Tel Aviv development center or continue working in Ra'anana. The Israel development center is managed by Yaniv Shalev, formerly of LivePerson Inc. (Nasdaq: LPSN); TASE: LPSN).
Convertro helps marketers and agencies maximize their return on advertising spending across online and offline media channels through insights into each channel, format, ad creative and audience segment using unique algorithms. The acquisition will create synergy with Adap.tv, the US-Israeli company founded by Amir Ashkenazi that AOL acquired last August for $405 million.
Published by Globes [online], Israel business news - www.globes-online.com - on May 7, 2014
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