Israel’s video advertising platform company Adap.tv has been bought by AOL for $405 million, as was reported by media such as TechCrunch, PC Magazine and Israel’s business press.
The strength of Adap.tv’s comprehensive platform and team has enabled its rapid expansion, resulting in a large and growing customer base of publishers and advertisers. In 2012, Adap.tv supported more than 26,000 global ad campaigns, which ran on approximately 9,500 websites and was used by many top brand advertisers.
AOL has invested heavily in the digital video space by focusing exclusively on premium content and premium publishers. This investment has propelled the AOL On Network to No. 2 in monthly content video views in the U.S. for nine of the last 12 months*.
“AOL is a leader in online video and the combination of AOL and Adap.tv will create the leading video platform in the industry,” said Tim Armstrong, Chairman and Chief Executive Officer of AOL. “The Adap.tv founders and team are on a mission to make advertising as easy as e-commerce and the two companies together will aggressively pursue that vision.
“Two trends are prevalent in the video space right now – the movement from linear television to online video and the shift from manual transactions to programmatic media buying. Adap.tv is positioned squarely in front of the huge opportunity these trends are presenting,” said Armstrong.
“At Adap.tv, we are focused on building the most important business within the most important category in digital advertising,” said Amir Ashkenazi, CEO, Adap.tv. “We believe that most TV advertising will soon be traded programmatically on platforms like ours. The combination of AOL and Adap.tv accelerates our vision of efficient and effective TV and video advertising.”
Adap.tv was founded in 2006 and has raised a total of $48.6 million in funding. Investors include Gemini Israel Funds, Redpoint Ventures, Spark Capital, and Bessemer Venture Partners.
Many Israeli companies active in the media and broadcasting arena will be participating at the upcoming IBC event in September in Amsterdam. To read more check out israelmediainnovations.com