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Thursday, February 28, 2013

Facebook buys Microsoft ad technology platform, (NASDAQ: FB)

Facebook Inc said on Thursday it struck a deal to purchase advertising technology from Microsoft Corp that should help prove the effectiveness of its customers' advertising. Under a long-rumored transaction, Facebook will purchase the Atlas Advertiser Suite, an ad serving, management and measurement platform that Microsoft took over through its $6.3 billion acquisition of aQuantive in 2007. Facebook did not say how much it paid for the technology.

Facebook, Inc. (Facebook) is engaged in building products to create utility for users, developers, and advertisers. Shares of FB traded higher by 1.41% or $0.38/share to $27.25. In the past year, the shares have traded as low as $17.55 and as high as $45.00. On average, 64632800 shares of FB exchange hands on a given day and today's volume is recorded at 78939592.