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AOL Acquires Broadband Video Ad Insertion Firm Lightningcast

Authored by dmw on May 18, 2006 - 12:29pm.
Dulles, Va. - After using its platform for more than four years, AOL said on Thursday that it has acquired Lightningcast, a developer of broadband video advertising technology, for an undisclosed sum. Founded in 1999, Lightningcast and its 34 employees -- led by CEO Tom MacIsaac -- will now become a unit of Baltimore-based Advertising.com, an AOL subsidiary. The company will continue to be based in DC. Lightningcast's technology is used by publishers to insert broadband video and audio ads into video content across the web. AOL has used Lightningcast's platform since 2002, originally for audio and later for video streaming ads. "This acquisition will provide a huge infusion of talent, technology, and publisher relationships for Advertising.com at a time when streaming video is growing at a blistering pace," said Mike Kelly, the president of AOL Media Networks, which oversees Advertising.com. Reuters reported that AOL has now acquired 7 companies since August, 2005, to strengthen its online entertainment and advertising business. Lightningcasts has received venture capital backing from Nokia Venture Partners, Redleaf Group, Global Internet Ventures, and New Markets Growth Fund.
http://press.aol.com/article_display.cfm?article_id=987&section_id=15
http://www.lightningcast.com
tags: Deals | Video | Video Deals | Marketing | Advertising | AOL | Acquisitions | Video Ads | Lightningcast |



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