Yahoo has finalized the acquisition of video platform and publisher services firm BrightRoll.
Announced late Monday, Yahoo says the deal will "dramatically strengthen" Yahoo's video advertising platform and make it the largest in the United States.
The acquisition was originally announced in November this year. Secured for $640 million, BrightRoll's programmatic video advertising platform is designed for reaching audiences across multiple platforms, including television, desktop and mobile.
BrightRoll will continue to offer its current products and services in the advertising realm, and Yahoo intends to pump additional cash into the company in order to expand its platform and advertising solutions.
Founded, in 2006, the San Francisco-based company accounts for approximately 400 employees, all of which will remain focused on digital video advertising. BrightRoll is expected to bring in net revenues of over $100 million in the 2014 fiscal year.
At the time of acquisition, BrightRoll CEO and founder Tod Sacerdoti commented:
"For advertisers and agencies, exclusive access to Yahoo's audience data via BrightRoll's industry leading DSP solution will result in increased in-target efficiency and significant cost savings."
Yahoo also said BrightRoll powers digital video advertising for 87 of the AdAge Top 100 US advertisers, as well as tens of thousands of apps and websites. The deal could help Yahoo monetize advertising across multiple platforms and become better equipped to connect with content publishers.
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