Hot on the heels of its announcement Feb. 25 that it had raised $80 million in a Series C round led by European venture firm Index Ventures and existing investor Wellington Partners, three-year-old online advertising network Adconion Media Group said it would buy data management and direct marketer Frontline Direct for $20 million in cash and equity.
The deal follows Adconion's purchase last July of the Australian advertising network Tempest Media. Adconion founder and CEO Tyler Moebius said the company is actively looking for additional acquisitions to expand both geographically and in the services it provides.
Moebius said Frontline has relationships with companies including ConsumerInfo.com, Inc. and Reunion.com that will dramatically boost Adconion's reach in the e-mail marketing segment and it will boost its North American employee count by 25. The company also sees an opportunity to take Frontline's business to Europe, where Adconion already has a large operation.
Adconion's markets its services to advertising agencies and direct advertisers as well as premium Web site partners. Moebius said the company has focused largely on classic display advertising and that Frontline's experience in direct marketing will broaden its offerings in both technology and industry expertise. - Clifford Carlsen
See Feb. 25 story from Tech Confidential
See October 2007 story from The Australian
For more see Mashable.com and Adotas
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