Twitter Pays $350 Million for Mobile Ad Company MoPub

Twitter purchased mobile-ad company MoPub for $350 million in stock according to a blog post from the firm.

The San Francisco-based companies did not disclose terms, but a person familiar with the matter said Twitter paid $350 million in stock for MoPub.

Similar to Google’s DoubleClick, MoPub allows companies to manage ad inventory in real time. The ad firm’s venture backers include “Accel Partners, Harrison Metal Capital, and Jafco Ventures” and the deal assigns a value of approximately $20 to Twitter shares.

Twitter is expected to be a popular public offering in 2014.