About a month ago, AOL announced the company's biggest acquisition under CEO Tim Armstrong with news that it would buy video ad platform Adap.tv for $405 million. The company announced the completion of that acquisition today.
“With the addition of Adap.tv, AOL’s leadership position in digital video is further solidified,” said Armstrong. “AOL is well positioned to capitalize on two clear trends in the video space – the movement of advertising dollars from linear to online video and the shift from manual transactions to programmatic media buying. We welcome Adap.tv and its extremely talented employees to the AOL team.”
AOL said in a statement, "Adap.tv is the only complete global programmatic video technology stack across all screens currently in the marketplace and will operate independently as part of AOL’s video organization. It will be included as part of the overall solution offered by AOL Networks to leading publishers, advertisers and agencies seeking to maximize the value of their online investments."
“At Adap.tv, we are focused on building the most important business within the most important category in digital advertising,” said Adap.tv CEO Amir Ashkenazi when the deal was first announced. “We believe that most TV advertising will soon be traded programmatically on platforms like ours. The combination of AOL and Adap.tv accelerates our vision of efficient and effective TV and video advertising.”
AOL’s video organization is led by Ran Harnevo. AOL Networks also includes Advertising.com, the AOL On Network, Be On, ADTECH and Pictela.
Adap.tv will also be part of AOL's Programmatic Upfront on September 23rd. The company calls this an "inaugural event for the industry."
Image: Ashkenazi and Armstrong (BusinessWire)