Microsoft expands advertising business with new acquisition
San Francisco, Aug 6 (IANS) In a bid to expand its advertising business, Microsoft has acquired New York-based company PromoteIQ that supplies marketing technology to online retailers and brands.
After the acquisition, Microsoft needs time to decide how it would integrate Microsoft Advertising's Artificial Intelligence (AI), Machine Learning (ML) and retail products with PromoteIQ in the coming months, ZDNet reported on Monday.
Earlier this year, Microsoft decoupled the Bing brand from its online advertising business which is now known as Microsoft Advertising.
Founded in 2012, PromoteIQ was previously known as Spotfront. And even though Microsoft has acquired the New York-based company for an undisclosed amount, the software giant plans to let it maintain its own brand as well.
PromoteIQ's technology is focused on retailers' e-commerce and advertising businesses. Its clients include Kroger, Kohl's and Overstock.com, the report said.