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| Adconian acquires shares from Joost |
| Friday, 27 November 2009 00:00 |
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Content network form Adconian has announced its acquisition of online video portal Joost's assets. Adconian said it intends to pursue Joost's policy of providing white-label streaming video platforms for other companies. The firm, which has almost 300 million monthly unique users, said the acquisition will allow it to offer advertisers, content owners and website publishers with an end-to-end global video platform and a cross-channel video and display ad-serving solution. Terms of Adconian's purchase of assets were not disclosed, but it is thought that around 12 of Joost's remaining 20 employees will join Adconian. Janus Friis, co-founder of Joost, said: "Over the past few months we have been actively exploring strategic options for Joost, and have concluded that the sale of certain of its assets to Adconion is in the best interests of Joost." Joost was launched in January 2007 but never really lived up to expectations and was eclipsed by the popular video streaming sites such as YouTube, Hulu and DailyMotion.  |