DoubleClick buys tech assets of L90
New York-based DoubleClick purchased select assets from L90, including its ad-serving and tracking software, AdMonitor, and customer-management technology, ProfiTools. Financial terms of the deal were not disclosed.
The sale will help Los Angeles-based L90 cut costs and focus on its media and direct-marketing businesses.
The move comes at an acquisitive time for DoubleClick, which has been snapping up tech assets of ailing rivals during the sharp downturn in the online ad market and despite its own efforts to scale back internally. The slack ad market has dazed or knocked out numerous technology providers, a situation DoubleClick has viewed as a buying opportunity.
DoubleClick is in discussions to buy rival business Real Media, a source close to the negotiations said Tuesday.
Earlier this month, the company bought media-planning technology from a small San Francisco agency, Adgile Interactive, for an undisclosed sum. The technology is a Web-based software application that automates the planning, buying and trafficking process for agencies and advertisers.
In June, DoubleClick bought e-mail marketer MessageMedia for $41 million in stock to boost its e-mail business. Earlier, it purchased e-mail marketer Flonetworks and the ad technology assets of Sabela Media from 24/7 Media.
Rival online-ad company 24/7 Media has said it plans to sell its broadband and professional-services unit in the next several months in a bid to raise cash and focus on its media business. The company faces delisting from the Nasdaq Stock Market.
Under Tuesday's deal, L90 will continue, for the short term, to support its roughly 48 ad-technology clients, which include Salary.com and GolfChannel.com. DoubleClick then will invite these clients to migrate to its ad-serving technology.
L90 also signed a five-year agreement to use DoubleClick's ad technology to deliver marketing messages for its customers.
Reuters contributed to this report.