Google buys AdMeld for $400 million: TechCrunch

Google has acquired Admeld, a New York-based company that provides an advertising platform for publishers, for around $400 million, technology blog TechCrunch said Thursday.

Asked about the TechCrunch report, a Google spokeswoman told AFP: "We do not comment on rumor or speculation."

There was no immediate reply from AdMeld to an AFP inquiry.

AdMeld's 500 customers around the world include FOX News, Hearst Television, Discovery and The Weather Channel.

Founded in 2007, AdMeld describes its mission on its website as providing publishers with "the cutting edge of advertising technology, enabling them to maximize their revenue and sell their inventory smarter and safer."

Besides its headquarters in New York, the company also has offices in San Francisco, London, Berlin and Toronto.

Google makes most of its money from Internet search and display advertising. The Mountain View, California-based company reported revenue of $29.3 billion last year.

(c) 2011 AFP