Twitter on Wednesday revealed that it has acquired native mobile ad technology startup Namo Media in an attempt to expand its native advertising initiative.
This is Twitter’s second ad business acquisition in a row, the first being MoPub, the mobile-focused advertising exchange which the micro blogging giant acquired for around $350 million in September last year.
Although terms of the deal were not officially declared, technology website, TechCrunch, claims that Twitter paid “around $50 million” for Namo.
The deal was announced by Kevin Weil, the company’s VP of product, in an official blog post which read, “In our conversations with the Namo Media team, it became clear we share a vision for how native advertising can improve the state of mobile app monetization for marketers, app publishers, and users.”
“We’re thrilled to add Namo Media’s expertise and technology to the ecosystem MoPub and Twitter have already developed to continue building the best native ads platform for app developers and publishers.”
The San Francisco based advertising firm in a blog post said it expects to integrate into the MoPub platform.
“Combining our technology with MoPub will offer our current and future customers a more powerful platform to generate revenue, all while preserving an amazing user experience,” Namo Media said.
“If you’re an existing publisher partner looking for more information on how to take advantage of these future capabilities, we’ll reach out to help you transition to MoPub’s native ads platform.”
The advertising startup is backed by venture capital firms including Google Ventures, Andreessen Horowitz and Betaworks.
Post announcement Twitter’s shares rose 99 cents or 3 percent to finish the day at $33.89.
