Twitter makes new acquisition

Twitter announced late Monday it is buying MoPub, a mobile-focused advertising exchange, in its fourth major purchase of the year.

Terms of the deal were not disclosed. Published reports put the price at about $300 million or more, based an estimated values of Twitter's privately-held stock that is being used to make the purchasem the CNN Money reported.


Twitter's statement said that MoPub's technology lets mobile application publishers manage their inventory of multiple sources of advertising.


Twitter, which is believed to be weighing an initial public offering some time in 2014, has been buying a number of tech startups as it tries to transform itself into more of a multimedia hub.


In February it agreed to buy Bluefin Labs, a Cambridge, Mass., company that provides advertisers, ad agencies and TV networks with information about social media reaction to television shows.