Google buys Wildfire to boost ad revenue

Google has bought Wildfire—a company specializing in social media marketing—to intensify its competition with Facebook for ad dollars.

Google+ is lagging behind Facebook when it comes to ad revenue, but its acquisition of the California-based startup company will let it provide new, advanced software and services to Brands. They will be able to run contests, sweepstakes, branded games and more on the site.

The deal went through for $350 million, plus earns outs and bonuses, reports Techcrunch.com. The company’s 400 employees will join Google.

Wildfire, though, will still aid Google’s competitors; its currently one of Facebook’s largest marketing partners. This could put the search giant in a precarious position, says John Constine of Techcrunch.com.

In recent months, Oracle Corp. and Salesforce.com also reached deals to buy similar startups.