Adconion Media Group
has acquired certain assets from privately-held Joost
, the online video service. Terms of the transaction were not disclosed. 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. 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.
The acquisition of Joost assets adds many dimensions to Adconion's existing video services and further will solidify its position in the online video and content syndication market. 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."
A leader in advertising innovation, targeting and distribution, Adconion reaches nearly 300 million unique users on a monthly basis. Prior to the Joost acquisition, Adconion was serving more than 80 million video streams per day to targeted audiences across 2,000 global websites.