Online advertising network Adconion Media Group has acquired certain assets from the online video service Joost, for an undisclosed sum. In June, Joost announced a change in its business strategy to focus on providing white-label video platforms, and Adconion plans to pursue this strategy.
Tyler Moebius, CEO, Adconion Media Group, said: “Through the acquisition of the Joost assets we will be able to provide advertisers, content owners and website publishers with an end-to-end global video platform and cross-channel video and display ad-serving solution.
“This acquisition immediately brings additional scale and content to the Adconion video pre-roll network for clients who are looking for a safe, cost-effective alternative to achieve the maximum value of online video advertising. We’ll also continue to operate Joost.com, providing clients with a destination site to showcase and distribute their branded entertainment content.”
On Friday, Adconion announced its first long-term licensing partnership as the exclusive display and video ad-serving solution for the Goldbach Media Group in Europe.
Prior to the acquisition, Adconion offered targeted distribution of content, including video and television commercials, to audiences around the world via Adconion.TV; as well as customized branded entertainment solutions for clients through its exclusive relationship with the digital studio RedLever.
Through the Joost acquisition, Adconion.TV will add to its library of professionally-produced video content available for targeted pre-roll advertisements across 2,000 premium publishers.
Janus Friis, co-founder of Joost, said: “Over the past few months we have been actively exploring strategic options for Joost, and have concluded that the sale of certain of its assets to Adconion is in the best interests of Joost. Adconion has a strong technological platform and a compelling business model, and we believe that both businesses will benefit as a result of this acquisition.”