Apple has bought a small ad network called EggNetwork that offers low-quality ads to companies and charities on sites like Reddit and Reddit Gold.
Apple, in a filing with the Securities and Exchange Commission, said the $10 million deal was part of a larger round of acquisitions, including $100 million in cash and $150 million in stock.
Apple will pay $10 a share in cash to EggNetwork, which will be renamed Apple-EggNetwork.
It will have a 25% stake in the company, the filing said.
Apple’s acquisition of EggNetwork marks its biggest ever investment in a media and digital ad platform.
The deal was first reported by Bloomberg News.
The acquisition also will give Apple a foothold in the online advertising business, where Google is dominating the market, according to an article in The Wall Street Journal last year.
The deal is expected to close by the end of the year.
Apple had a strong showing in 2016, with revenue surpassing $11.5 billion and net profit topping $10 billion.
The company has long said it wants to improve its digital advertising business.
It’s also invested heavily in social and mobile ads in recent years.
The new acquisition is a big win for Apple’s advertisers, who are increasingly looking for ways to compete with Google’s online advertising.
The company has also been a pioneer in creating and managing its own advertising platforms.