October 5, 2011
“While the details of the transaction itself weren’t released, this acquisition ranks among the most significant outcomes for the region in the past 10 years,” said Seth Levine, managing director of Foundry Group, Lijit’s lead investor. The acquisition comes less than 6 months after Lijit raised $10 million in its latest round of funding.
Lijit connects online publishers with advertisers, as well as offering tools to measure and boost audience engagement. Federated Media seems to focus more on advertisers, helping them create “conversational” marketing on publishers’ sites. With the acquisition, Federated Media can now integrate Lijit’s proprietary analytics tools and real-time bidding platform for selling advertising, and reach 300 million global unique visitors, as measured by Quantcast.
In a deal that has been in the works since May, Lijit is becoming a wholly owned subsidiary of Federated Media and top Lijit executives are taking on leadership roles at the media company. Lijit’s founder and CEO, Todd Vernon, will be Federated Media’s EVP of technology. Lijit plans to hire 30 to 40 employees and move to a bigger office in Boulder, Tech Cocktail captured a video office tour after the first Tech Cocktail Boulder mixer.
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