Image: Mashable, Christina Ascani By Seth Fiegerman2014-06-30 20:11:21 UTC
Twitter has agreed to buy TapCommerce, an ad tech firm, the two companies announced late Monday. Terms of the deal were not immediately disclosed, but Re/code reports it may have been around $100 million.
TapCommerce describes itself as a mobile ad retargeting and app reengagement service. To put that more simply, TapCommerce sells ads designed to prompt users to open up apps they’ve already downloaded. The company was founded in 2012 and raised more than $10 million in funding.
With the acquisition, Twitter could continue to build out its mobile ad products, including its app install ads, which this week expanded globally.
“Together with the TapCommerce team, Twitter will be able to offer mobile app marketers more robust capabilities for app re-engagement, tools and managed service solutions for real-time programmatic buying, and better measurement capabilities,” Twitter said in a blog post announcing the deal.
Twitter stock was essentially flat in after hours trading following the news.