Breaking News from CNBC's Julia Boorstin: Facebook to Acquire Atlas Solutions from Microsoft Deal to be Valued Around $100 Million: Sources
WHEN: TODAY, THURSDAY, FEBRUARY 28TH
WHERE: CNBC'S "STREET SIGNS"
Following is breaking news from CNBC's Julia Boorstin. All references must be sourced to CNBC.
JULIA BOORSTIN: SOURCES TELL ME THAT SOMETIME THIS AFTERNOON FACEBOOK WILL ANNOUNCE THAT IT IS ACQUIRING A COMPANY CALLED ATLAS SOLUTIONS FROM MICROSOFT AND THAT THE DEAL WILL BE VALUED IN THE BALL PARK AROUND $100 MILLION. NOW THIS DEAL HAS BEEN RUMORED FOR A COUPLE OF MONTHS NOW AND THERE WAS A LOT OF SPECULATION THAT FACEBOOK WAS BUYING ATLAS' COOKIE TECHNOLOGY IN ORDER TO CREATE AN AD NETWORK BUT WHAT SOURCES ARE TELLING ME THIS IS REALLY ABOUT BETTER MEASUREMENT THAT FACEBOOK WANTS TO HAVE THE ABILITY TO SEE WHERE CONSUMERS GO AFTER THEY LEAVE FACEBOOK IN ORDER TO BETTER UNDERSTAND HOW WELL THEIR ADS WORKED TO GIVE THAT INFORMATION TO ADVERTISERS AND ALSO USE IT TO BETTER IMPROVE THEIR AD TARGETING. SO THIS IS YET ANOTHER $100 MILLION DEAL FOR FACEBOOK NOT A HUGE ONE BUT A KEY STRATEGIC MOVE TO IMPROVE THEIR AD TRACKING AND DELIVERY.
With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD , CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to approximately 390 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 16 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 8:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide.
CNBC also has a vast portfolio of digital products which deliver real-time financial market news and information across a variety of platforms. These include CNBC.com, the online destination for global business; CNBC PRO, the premium, integrated desktop/mobile service that provides real-time global market data and live access to CNBC global programming; and a suite of CNBC Mobile products including the CNBC Real-Time iPhone and iPad Apps.
Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site athttp://www.nbcumv.com/mediavillage/networks/cnbc/