Adknowledge buys media division of Miva Inc.
Posted by Simon Day on March 16, 2009 at 7:26 AM
Adknowledge, the behavioural targeting advertiser, announced on Friday its US$11.6 million purchase of the Media Division of MIVA, Inc, according to a company press release. The acquisition is one of a number of recent purchases made by the advertising network as it looks to expand its multi-channel advertising base.
Adknowledge plans to "quickly combine MIVA Media's strong industry position and experience with Adknowledge's core predictive targeting technology to improve results for MIVA Media's advertisers," Scott Lynn, CEO of Adknowledge, said in the statement.
Adknowledge plans to "quickly combine MIVA Media's strong industry position and experience with Adknowledge's core predictive targeting technology to improve results for MIVA Media's advertisers," Scott Lynn, CEO of Adknowledge, said in the statement.
Founded in 1999, MIVA media is a contextual Pay-Per-Click (PPC) ad network and one of the largest online performance advertising networks. The sale includes the networks Espotting and Findwhat.com brands.
"We believe that consolidation is required in the Pay-Per-Click sector and that Adknowledge is extremely well positioned to take advantage of MIVA Media's assets," Peter Corrao, MIVA, Inc.'s President and CEO, said in the release.
Adknowledge is hoping for a rapid positive influence from the purchase, predicting a financial impact as early as the second economic quarter.
MIVA Inc. plans to put the proceeds of the sale towards the expansion of its ALOT product portfolio, according to paidContent.org.
The purchase marks the largest of five acquisitions in the past 18 months. The other four purchases were social media sites Cubics and Lookery, social analytics site Adnomics.com and a display ad network, Mediarun. The all cash sale includes the assumption of certain balance sheet liabilities, and is subject to certain retained assets and liabilities and post-closing adjustments.
"We believe that consolidation is required in the Pay-Per-Click sector and that Adknowledge is extremely well positioned to take advantage of MIVA Media's assets," Peter Corrao, MIVA, Inc.'s President and CEO, said in the release.
Adknowledge is hoping for a rapid positive influence from the purchase, predicting a financial impact as early as the second economic quarter.
MIVA Inc. plans to put the proceeds of the sale towards the expansion of its ALOT product portfolio, according to paidContent.org.
The purchase marks the largest of five acquisitions in the past 18 months. The other four purchases were social media sites Cubics and Lookery, social analytics site Adnomics.com and a display ad network, Mediarun. The all cash sale includes the assumption of certain balance sheet liabilities, and is subject to certain retained assets and liabilities and post-closing adjustments.
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