Buzzvil acquires Slidejoy for a lockscreen ad consolidation

New York City startup Slidejoy has been acquired by South Korean competitor Buzzvil.

Both companies offer a way for Android users to earn rewards in exchange for allowing ads on their lockscreens — in Buzzvil’s case, that’s both through its HoneyScreen consumer app and through its BuzzScreen platform for publishers.

The financial terms are not being disclosed, but Slidejoy co-founder and CEO Robert Seo told me that the deal involved both cash and stock. Post-acquisition, Seo will serve as CEO for Buzzvil’s subsidiary in the United States. As a combined company, Buzzvil says it will deliver 4 billion ad impressions each month.

Seo added that while some U.S. consumers have been leery of lockscreen advertising, the model has had much more success in Asia. And he suggested that lockscreen advertising could be a new monetization model for mobile publishers — they could offer premium features to users who maybe aren’t going to pay for a subscription but are willing to accept ads on their lockscreens.

“Slidejoy is the perfect opportunity for Buzzvil to diversify its geographic footprint while bringing on a world-class team,” said Buzzvil CEO John Lee in the acquisition release. “With our combined scale and geographic reach, we are now positioned to propel lockscreen advertising forward and shape the mobile advertising landscape worldwide.”

Slidejoy had raised $1.2 million in funding, according to CrunchBase.