New York-based online advertising network Undertone has acquired Jambo Media, one of the largest suppliers of online video advertising distribution and technology. No terms of the deal were disclosed.
Jambo, according to comScore, has more than 17 million unique viewers per month; its customers include blogsbyfans.com and dailygame.net. With the acquisition, Undertone adds Jambo's video player and content management technology to its portfolio and gains the ability to create premium video inventory for a market in which demand outpaces available supply. Undertone's client list is a little more star-studded than Jambo's, including General Mills, Wal-Mart and more.
Piper Jaffray projects 39 percent annual growth over the next five years for online video to become a $5 billion-plus market. With this acquisition, Undertone adds Jambo's video player and content management technology to its portfolio and gains the ability to create premium video inventory for a market in which current and future demand far outpaces available supply.
"While brand advertisers use video in traditional settings like television, it is under-utilized online," said Mike Cassidy, CEO of Undertone. "Undertone's goal is to help marketers 'span the screens,' putting video to work for brands on televisions, personal computers and mobile devices. Pairing video and display under a single management platform helps advertisers serve the right content in the right format to the right person, delivering results that impact the brand."
- see this release
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