MOUNTAIN VIEW (CBS/AP) – Google has struck a deal to add another potentially valuable piece to its online advertising empire.
The agreement announced Monday calls for Google Inc. to buy a 3-year-old startup called Admeld. Based in New York, Admeld specializes in technology that helps websites make more money by selecting ads most likely to generate the most revenue.
Financial terms weren’t disclosed. The acquisition still must be approved by government regulators who have been taking a closer look at Google’s power in Internet search and online advertising.
Admeld’s service is focused on marketing campaigns that promote brands and typically feature imagery. The format is known as display advertising, an area where Google Inc. has been gaining market share since its $3.2 billion acquisition of DoubleClick Inc. in 2008.
(Copyright 2011 by CBSSan Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services may have contributed to this report.)