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Microsoft buys marketing technology company

Microsoft Corp. acquired PromoteIQ, a provider of marketing technology to online retailers and brands, for an undisclosed sum.

"PromoteIQ has pioneered the private marketplace approach to digital vendor marketing," Microsoft said in an Aug. 5 official blog post. "PromoteIQ’s technology strategically complements Microsoft’s current retail advertising offerings, and together, we can enable retailers with a portfolio of technology solutions to modernize their e-commerce platforms and maximize their monetization opportunity."

PromoteIQ will maintain its brand and become a division within Microsoft Advertising.