The transaction is valued at approximately $175m, subject to adjustment, in a combination of approximately 10% stock and approximately 90% cash.
According to Russell Glass, CEO, the combination with LinkedIn increases Bizo’s ability “to be the most effective platform for B2B marketers to reach their audiences, nurture prospects and acquire customers“.
“We see incredible opportunities in the coming years to continue to scale our mission beyond what we ever thought possible — and create a big win for our customers, employees, and LinkedIn members“, he added.
Subject to the completion of customary conditions, the acquisition is expected to close during the third quarter of 2014. Following closing, many members of the Bizo team are expected to join LinkedIn.
Founded in 2008 by Glass, Bryan Burdick, Donnie Flood, Mark Dye, Lee Byrne and Yonatan Stern, Bizo provides data management and targeting technology, which enables precise and measurable B2B display and social advertising programs.
The platform is used by 750 SMB marketers and large global brands including AMEX, Mercedes Benz, Monster, Salesforce.com, Porsche, Microsoft, AT&T, and UPS to reach over 120 million business professionals from around the world.