Business networking tool LinkedIn has made an acquisition of a software and services outfit that helps B2B customers target audiences in professional segments.
LinkedIn on Tuesday announced it is buying Bizo, a B2B marketing firm, for about $175 million.
The transaction is a combination of 10% stock and 90% cash. It is expected to close in the third quarter.
Formed in 2008, Bizo provides software and services that let B2B customers reach their target audiences online within professional segments. The platform also lets marketers adjust their messaging as the target customer moves through the purchase funnel. Some 120 million professionals use Bizo’s platform.