Popular business networking and communications platform LinkedIn has acquired digital identity management company Drawbridge for an undisclosed price.
LinkedIn, which is owned by Microsoft (MSFT) - Get Report , plans to use Drawbridge's technology to improve its marketing solutions tools, which are used by marketers to create ads, generate leads and drive website traffic.
In a blog post published late Tuesday, Tomer Cohen, LinkedIn's product vice president, said the company plans to utilize Drawbridge's capabilities to help its marketing customers "better reach and understand their professional audiences and measure the ROI of their campaigns across mobile and desktop."
Founded in 2011, Drawbridge uses internally developed machine learning technology, a subset of artificial intelligence, that helps companies better understand their customers. Its software is focused on issues such as customer experiences and identity, digital security and risk detection.
The company had raised $69 million via five funding rounds prior to being acquired by LinkedIn.
Shares of Microsoft were down 1.03% at $124.86 in early trading on Nasdaq Stock Market.