LinkedIn acquires Bizo
It was discussed recently on this blog that professional networking site LinkedIn had acquired a company called Newsle to help it deliver more relevant content to its users. LinkedIn has made another acquisition during the last couple of weeks. This time, the company has announced that it has agreed to purchase Bizo, a B2B marketing company.
According to an article in the New York Times, LinkedIn will acquire Bizo for $175 million. Through this deal, LinkedIn will gain technology that will further enable the company to improve its operations. The two companies have already been working together as partners.
Bizo's technology works to target prospective customers and reach them with targeted content. The goal behind this technology is to allow marketers to achieve better results and increase revenue.
"LinkedIn's mission is to connect the world's professionals to make them more productive and successful, while Bizo's is to help B2B marketers get to the right people. We realized that our respective missions are incredibly well aligned, and we believe that combining forces will accelerate our ability to execute against the huge opportunities ahead," said Russel Glass, Bizo CEO, in an announcement on the company's blog.
Company mergers and acquisitions can be opportunities for two companies to join forces and create a product or service that they may not have otherwise accomplished. Acquisitions can be advantageous for the company being acquired because they may be able to gain access to a greater breadth of resources that allow them to further advance their product.
According to a Tech Crunch article, LinkedIn will be able to integrate Bizo's technology to allow brands to further connect with LinkedIn users. This way, LinkedIn looks to continue improving its services.