Mapping destination and platform MultiMap was acquired by Microsoft (speculation is: $50 million). This feeds both the consumer and advertiser sides of the house, including mobile. MultiMap will become part of Virtual Earth and be used by the advertising platform.
Not being an engineer it’s not clear to me exactly what the acquisition brings beyond what Microsoft already has in Virtual Earth. But here’s what Microsoft said:
The acquisition gives Microsoft a powerful new location and mapping technology to complement existing offerings such as Virtual Earth, Live Search, Windows Live services, MSN and the aQuantive advertising platform, with future integration potential for a range of other Microsoft products and platforms.
Google recently introduced “My Location” to Maps for Mobile, which will eventually enable much more precise ad targeting on mobile devices.
Here’s more on the MultiMap acquistion from the WSJ.