Re/code reports Twitter (TWTR - unchanged) is "in the process" of buying TapCommerce, the owner of a leading mobile ad retargeting platform (delivers ads based on user activity on other sites/apps). Sources state the price is around $100M.
TapCommerce claims its platform delivers ads on 50K+ iOS/Android apps, and handles 15B+ (automated) ad impression bids each day. It gets paid on a per-click basis.
Twitter already delivers retargeted ads on its site and apps, and was reported last year to be hatching plans to offer them via its MoPub mobile ad exchange. Acquiring TapCommerce would eliminate the need for MoPub to offer an in-house solution.
Update: Twitter confirms the deal. No purchase price is given. "Together with the TapCommerce team, Twitter will be able to offer mobile app marketers more robust capabilities for app re-engagement, tools and managed service solutions for real-time programmatic buying, and better measurement capabilities."