AOL has agreed to purchase video advertising platform Adap.tv for $405 million in cash and stock, the company announced today.
“Two trends are prevalent in the video space right now – the movement from linear television to online video and the shift from manual transactions to programmatic media buying,” said AOL chairman and CEO Tim Armstrong in a statement. “Adap.tv is positioned squarely in front of the huge opportunity these trends are presenting.”
Boasting wide adoption among advertisers and publishers, including 83 of the Ad Age 100 and 70 of the comScore 100, Adap.tv said it has grown its global revenue more 100 percent every year for the last three years.
The purchase marks the largest acquisition in AOL’s history as an independent company, according to the New York Times.
As part of AOL Networks’ offerings for its publishing and advertising partners, Armstrong added that the service aims “to make advertising as easy as e-commerce and the two companies together will aggressively pursue that vision.”