Google buys ad exchange manager Invite Media

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Google has bought Invite Media, a startup whose technology helps advertisers and agencies manage display-ad exchanges.
Financial terms of the deal were not disclosed, but the All Things Digital website put the purchase price at about $70 million.
Google plans to allow Philadelphia-based Invite Media to operate as a standalone unit. It will work with Google’s own ad exchange, AdX, as well as such other ad exchanges as Microsoft Corp.’s AdECN and Yahoo’s Right Media.
Three-year-old Invite Media has received funding from Comcast, Creative Commerce, First Round Capital, Genacast Investors and Interactive Capital