AOL has announced the completion of a deal to buyout Adap.tv in the company's latest push into video advertising.
According to a press release, AOL's new division will develop solutions for publishers, advertisers and agencies seeking ways to improve and maximize the value of their online investments.
Adap.tv will act independently and continue to refine its intelligence platform, which is used to improve the way video advertising is bought and sold online. AOL says that the video advertiser's technology helps many of the world's largest brands, agencies, publishers and ad networks intelligently, effectively and safely plan, buy and measure the billions of video advertisements in place every month across web, linear, TV and mobile video sites.
"With the addition of Adap.tv, AOL's leadership position in digital video is further solidified," said Tim Armstrong, Chairman and CEO of AOL. "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."
Adap.tv will be a part of AOL's Programmatic Upfront, an event slated for this year. The event is part of AOL's attempt to muster interest in a large-scale, machine-driven online ad market. Over a hundred premium investors and sellers are hoped to attend the event on September 23, which will be hosted annually if it is a success. However, the company's advertising programs aren't focused on standard investors.
"This isn't about cheap stuff," Armstrong said. "We think there is a massive shift coming over the next few years."
Adap.tv has U.S. offices in Chicago, Los Angeles and New York, and international offices in Australia, India and London.