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Foursquare said that it plans to acquire Placed from Snap as it seeks to build a location company giant.

The two companies plan to incorporate some of their features like measurement tools.

Marketers hope the acquisition will bring some needed consolidation to location-based advertising but question aspects, such as whether Placed will be independent under Foursquare.

Backed by a fresh $150 million in funding from The Raine Group, Foursquare wants to dominate location-based advertising that marketers use to target and measure campaigns.

On May 31, Foursquare announced that it is acquiring measurement firm Placed from Snap and will combine some of their products for marketers, including tools that measure ad exposure with foot traffic.

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