Google Inc. (NASDAQ:GOOG) has acquired adverting technology company Invite Media for a price that is around the $70 million range. Invite Media is a three year old company that was designed to help buyers find display-advertising exchanges.
Google plans to let Invite Media run independently that will work closely with Google AdX. Invite Media also works with OpenX, Yahoo! Right Media, and Microsoft AdECN. Eventually Invite Media will be integrated with DoubleClick for Advertisers.
Invite Media CEO Nat Turner and his co-founders started the company when they were undergraduate students at the University of Pennsylvania. Invite even considered selling to Omniture last summer. That deal fell through after Adobe acquired Omniture.