Google Inc. has acquired South Korean blogging-software developer company Tatter and Company, or TNC, in a bid to expand the Internet search leader's reach in Asia.
Through a blog posting Friday, Chang-Won Kim (TNC's co-CEO), announced the acquisition. However, he did not disclose how much Google paid for the acquisition. In addition, Mountain View-based Google has confirmed the statement. This acquisition reflects Google's efforts to open up new distribution channels for its ads beyond its ubiquitous search engine.
Similar to Google's 2003 acquisition of the Blogger platform, the deal for TNC could also help Google continue improving its techniques for synthesizing and scouring blog content and tailor ads more precisely to specific markets. In addition, Tatter owns a blogging platform called Textcube, which is popular among Korean bloggers.
Kim said Google has strived to gain market share in Korea because many Internet users there are locked into Web portal-style services. Those services funnel users through one central point for all their Internet needs and limit some of the freewheeling exploration of different sites that helps Google sell more ads. For information, according to Internet World Stats, which is a Web site that tracks such data, Korea has the ninth-highest number of Internet users in the world.
Shares of Google closed Friday's session up nearly 1 percent at $437.66 on the Nasdaq.
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