AOL to acquire Advertising.com
25 June 2004
America Online Inc has announced that it has signed a definitive agreement to acquire Advertising.com, Inc.
AOL will purchase Advertising.com, a leading provider of results-based interactive marketing services, for $435 million in cash.
Combining America Online's advertising inventory with the Advertising.com network will provide advertisers with an unprecedented opportunity to reach more than 140 million internet users, AOL claims.
The firm will also be able to offer advertisers an expanded suite of customized solutions, including branding, paid placement, and multimedia delivered on a CPM or performance basis.
Jonathan Miller, AOL chairman and CEO, said, "Advertising.com has built a profitable, scalable and highly attractive business. This acquisition is a strategic move that will bolster AOL's advertising business, building on the strides made in the past year."
Advertising.com chief executive officer Scott Ferber added, "We're looking forward to the opportunity to build on what we've accomplished - taking our company from startup to industry leader in six years - as part of America Online. We're excited about growing the size of our advertising network, continuing to provide advertisers with creative solutions that meet their needs, and helping AOL increase the value of their inventory."
Advertising.com works with more than 800 advertisers and over 1,500 online publishers and operates the industry's largest third-party advertising network, reaching more than 110 million unique visitors monthly and over 70 per cent of all US web visitors. The firm's revenues increased almost 80 per cent in 2003 to reach $132 million.
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