Adobe to buy ad agency ToolHanger for $2.6B

Adobe is about to buy ToolHang, the company that provides online tools for advertisers and publishers to find, create and manage ad impressions, according to people familiar with the matter.

Adobe is the world’s largest publisher of online ad products, and ToolHange has developed tools that allow publishers and advertisers to analyze online ads and identify and remove harmful ads.

The acquisition will give Adobe an ad-tracking, advertising-tracking and other analytics arm that will help advertisers make more targeted ads, according the people, who asked not to be identified discussing private company transactions.

It’s not clear how much Adobe is paying for ToolHanging.

Adobes stock fell about 2.4% to $23.80 on Thursday.

ToolHanging said in a statement that it is committed to providing advertisers with best practices, best practices that apply to all ad campaigns.

Toolhakings Chief Executive Officer and Founder Paul Sorensen said in an e-mail that the company is looking forward to continuing to work with Adobe on the acquisition.

ToolHangs core competency is in creating innovative ad-targeting solutions that will allow advertisers to reach the widest possible audience, including through digital media, he said.

The company is a member of the Adtech industry group that includes Adobe, Google, Microsoft and Twitter.

It said in its filing with the Securities and Exchange Commission that the acquisition is subject to customary closing conditions.