Twitter Inc. reached an agreement over the acquisition of the mobile-apps advertising company TapCommerce Inc, in a deal said to be worth about $100 million.
Currently, TapCommerce Inc. specializes in targeted advertisement through mobile apps, and is the latest step in a series of ad-related acquisitions made by Twitter recently. In October it took over MoPub Inc., accessing advertisement market of more than 1 billion mobile devices. Now, with the acquisition of TapCommerce, the company will get the chance to distribute advertisements through more than 50000 mobile applications.
“It’s another step in this bigger vision we’ve started to put together about mobile advertising,” Richard Alfonsi, Twitters Vice President of Global Online Sales, said, cited by Bloomberg. Mr. Alfonsi also explained that the deal is expected to provide advertisers with “access to additional off-Twitter inventory and buying opportunities”.
The deal was announced as Twitter moves to release mobile-app install ads to the wider advertising community, the Wall Street Journal reported.
Recently, Twitter Inc. has been dealing with declining user growth for its core business. Most of the companys revenues come from advertising, and it more than doubled in the first quarter to $250.5 million. The books, however, reveal that Twitter has yet to make profits.
Twitter Inc. was 4.42% up at $42.80 per share as of 15:30 GMT today. According to the information published on CNN Money, the 27 analysts offering 12-month price forecasts for Twitter Inc. have a median target of 43.00, with a high estimate of 60.00 and a low estimate of 26.00. The median estimate represents a +4.95% increase from the last price of 40.97.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
