Walmart Inc. will acquire technology from Thunder Industries, a company that uses automation to create digital ads, as it continues to invest in its ad business and seeks a greater slice of marketing budgets from small businesses.
The company declined to disclose terms of the deal. Walmart is purchasing the technology and assets of PaperG Inc., which does business as Thunder Industries, and will bring over most of the company’s employees, according to a person familiar with the matter. It isn’t purchasing Thunder’s existing customer contracts, which will be wound down, the person said.
Walmart instead will use Thunder’s technology to launch a self-service tool that helps advertisers make and buy numerous versions of display ads targeting different kinds of consumers on its properties.
Source: WSJ
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