Publicly-listed DG, which provides digital media solutions and tech to the advertising and entertainment industries, has agreed to take over Limelight Networks’ video and rich media advertising unit, EyeWonder, for roughly $66 million in cash.
For the record: Limelight had acquired EyeWonder in 2009 for up to $110 million (in cash and stock).
Limelight this morning also announced a share repurchase program as well as updated its third quarter 2011 financial guidance as a result of the EyeWonder transaction.
Founded in 1999, EyeWonder provides a range of interactive ad products and services, including online video and rich media solutions, to Fortune 1000 companies and marketers worldwide.
DG – formerly DG FastChannel – says it expects EyeWonder to generate revenues of approximately $36 million to $37 million for full year 2011.
The transaction, which is subject to customary closing terms and conditions, is expected to close on September 1, 2011.
DG serves more than 5,000 advertisers and agencies through a media distribution network of more than 28,000 radio, television and print publishing destinations throughout the United States, Canada and Europe. DG’s internet division now comprises MediaMind, EyeWonder and Unicast.
EyeWonder, Inc. provides interactive digital advertising products and services in the United States. The company also provides online video and rich media advertising solutions. Its ad formats include in-page interactive digital ad formats, which comprise video ad formats, including video banner ads, video expandable ad, and video floating ads; and rich media ads, such as interactive banner ad, expandable ad, and floating ad. The companyâ€™s ad formats also include in-stream ad formats that comprise in-stream 2.0 ads, such as...
Limelight Networks, Inc. (Nasdaq:LLNW) is a global leader in Digital Presence Management. Limelight’s Orchestrate Digital Presence Platform is an integrated suite of cloud-based Software as a Service (SaaS) applications, which allows organizations to optimize all aspects of their online digital presence across web, mobile, social, and large screen channels. Orchestrate leverages Limelight’s scalable, high-performance global network to offer advanced features for: web content management; website personalization; content targeting; online video publishing; mobile enablement and monetization; content delivery; transcoding; and...
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