Advertising and content network operator Adconion this morning announced that it has acquired smartclip, a European digital video advertising startup.
Financial terms of the acquisition were not disclosed, but sources tell us this was an all-stock deal and no cash is changing hands in the transaction.
Smartclip’s network of in-stream and connected TV distribution partners stand to increase the volume of inventory available across Adconion’s digital distribution platform, which delivers targeted ads and content across display, email, social and both in-banner and in-stream video.
Adconion says that, with the inclusion of over 500 new publisher sites from the Smartclip portfolio, Adconion will significantly grow its content network (current reach is said to be close to 700 million unique users) and expand its footprint to 17 countries worldwide.
With the acquisition of smartclip, Adconion will gain 118 employees in Europe and expand to 27 offices servicing clients across European key markets, and Russia.
The launch of smartclip was partly funded by Thomas Falk’s VC firm eValue, and the company was later financed by Dutch investment company Van den Ende & Deitmers.
Adconion acquired key assets from Joost, the ill-fated online video service started by Skype founders Niklas Zennström and Janus Friis, back in November 2009.