AOL Europe has lead an acquision of video distribution network Goviral today, to the tune of $96.7 million. Goviral distributes branded video content for mainstream brands, as well as content producers and advertising agencies. Originally out of Copenhagen, the company now has offices across Europe. The initial purchase is for $74.1 million and $22.6 million in a two year earn out. It joins others AOL acquisitions in the last year including, StudioNow, 5min Media, Thing Labs, Pictela, about.me and, er, TechCrunch.
We’re hearing this deal was lead directly by Kate Burns, SVP, AOL Europe. René Rechtman, CEO, goviral secured $8.82 million Series A funding from European VC Kennet Partners in 2009.
In a statement Burns said: “Video is core to AOL’s consumer programming strategy and goviral has created an incredibly compelling platform that delivers highly measureable and cost effective solutions to publishers and advertisers.”
Goviral will retain its offices in the UK, Germany, France, Denmark, Sweden and Spain. It’s video distribution network spans 18,000 publishers across 24 vertical markets and claims to reach 350 million users and generate more than 60 million video views monthly.
Interestingly AOL UK’s former advertising sales director Sarah Perry joined goviral in the new role of client and agency director, three months after leaving AOL.