Adconion Media Group, the world’s largest independent content and audience network, has announced that it has acquired certain private assets from Joost, the online video service. The terms of the transaction have not been disclosed.
“Video is one of the main priorities of our company, and through the acquisition of Joost’s assets we will be able to provide advertisers, content owners and web media with a global video and cross-channel platform and offer ad solutions. -serving, “said Tyler Moebious, CEO, Adconion Media Group. “This purchase will immediately bring scale and additional content to Adconion’s pre-roll video network for customers who are looking for a safe and cost-effective alternative to reach the maximum value of online video advertising. Joost.com will also continue to operate, providing customers with a destination site to display and distribute their branded entertainment content. ”
In June, Joost announced a change in its business strategy to focus on providing branded video platforms, and Adconion will pursue this strategy. On Friday, Adconion announced its first long-term agreement as an exclusive display and video ad-serving solution for Goldbach Media Group in Europe.
The acquisition of Joost’s assets gives Adconion’s existing video services a greater dimension and solidifies its position in the online video and syndicated content market. Before the purchase, Adconion offered the distribution of content by targets, including video and television spots, for audiences worldwide via Adconion.TV, as well as branded entertainment customized solutions for customers through its Exclusive relationship with the RedLever digital studio. Through the acquisition of Joost, Adconion.TV will add to its professional video collection content available for targeted pre-roll ads targeting 2,000 Premium media.
Janus Friis, co-founder of Joost, said: “In the last few months we have been exploring strategic options for Joost, and we have come to the conclusion that the sale of certain assets to Adconion meets Joost’s best interests. Adconion has a strong technology platform and a compelling business model, and we believe that both companies will benefit as a result of this purchase.
Leader in innovation, targeting and advertising distribution, Adconion reaches nearly 300 million unique users per month. Prior to Joost’s acquisition, Adconion was serving more than 80 million streaming videos per day for segmented audiences on 2,000 global sites.