Facebook has announced that it has agreed to buy the Atlas Advertiser Suite from Microsoft. The social network company said that the purchase would now help advertisers keep track of their ad spends and understand what sort of returns that they are raking in.
"If marketers and agencies can get a holistic view of campaign performance, they will be able to do a much better job of making sure the right messages get in front of the right people at the right time," said the company. "Atlas has built capabilities that allow for this kind of measurement, and enhancing these systems will give marketers a deeper understanding of effectiveness and lead to better digital advertising experiences for consumers."
Talks between the two companies were first reported by Business Insider back in December last year. Several others have been closely watching the story, providing information every now and then. So in nutshell, this is one of the worst guarded secrets in technology history and no surprise.
Both companies did not announce any pricing details or numbers, but AdAge estimates that the deal could be worth around $100 million dollars. Others have also suggested a similar price tag for the advertiser suite.
Will it be a powerful addition to Facebook's arsenal? Definitely. The new purchase should be a natural fit for the social network, which has been doing everything in its power to make more revenue from their advertising business.
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