Comcast (NASDAQ: CMCSA) has acquired ad-targeting firm Visible World, which works with marketers to deliver targeted ads to specific audiences based upon zip codes and data from users' set-top boxes.
Terms of the deal were not disclosed. In a blog post to employees, Visible World CEO Seth Haberman said that Comcast's investment in the business "will accelerate our ability to deliver on our vision and provide more open and efficient systems that will encourage more valuable and collaborative relationships across the TV ecosystem."'
The deal had been rumored for several months; in March, the Wall Street Journal reported that the two entities were in negotiations.
Comcast has been steadily building its expertise in the ad-tech area: Last year the company acquired FreeWheel for $320 million. FreeWheel delivers ads for TV Everywhere products like WatchESPN and Watch ABC and provides viewer data as well as advertising information such as CPM rates and volume.
"This partnership reflects the business and technology trends we are seeing in the television industry today. We look forward to helping the talented Visible World team expand and accelerate their business and create more value for distributors, advertisers, agencies, programmers and affiliates," said John Schanz, executive VP and chief network officer for Comcast Cable, according to Broadcasting & Cable.
Comcast plans to operate Visible World as an independent company and said that Visible World will continue to develop new services and grow its customer base.
Prior to the acquisition, Visible World had raised $33 million from investors such as Adams Street Partners, AllianceBernstein, Dawntreader Ventures and Grey Ventures.
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