Microsoft acquires Navic Networks
19 June 2008
After finally walking away from any deal with Yahoo lasr week, Microsoft Corp has announced a smaller acquisition of television advertising software provider Navic Networks for an undisclossed sum.
The acquisition is aimed at helping Microsoft develop technology to more precisely match television advertisements to targeted viewers and builds previous acquisitions in recent years to strengthen its audience targeting technology for advertisers.
Navis makes software for TV set top boxes collectong comprehensive data on viewing habits of television audiences using sophisticated tools that use real-time audience measurement data to to help advertisers reach targeted audiences of cable and television programmes. Earlier last year it paid $6 billion for aQuantive Inc., which makes a host of technologies to improve ad delivery.
Navic's patented technology is installed in 35 million set top boxes in Norrth America, which enables it to provide advertising and interactive television technology to the cable and direct broadcast satellite television industry.
In three rounds of venture capital funding, Navic had raised $43 million from Pilot House Ventures Group of Boston, Pequot Private Equity of Westport, Conn., Highland Capital Partners of Boston and Himalaya Capital LLC of New York.