DoubleClick snaps up video technology firm
- Added:
- Jun 26, 2006
The deal will provide a new customer base for DoubleClick, who will integrate its DART ad management platform with Klipmart’s video service.
The move will give media agencies a combined source of technology, service and reporting through the integration of Klipmart’s video and DoubleClick’s DART Motif and DART ad management technologies.
Meanwhile, clients from creative agencies will have access to video advertising services from Klipmart, backed by DoubleClick’s global reach and technology infrastructure.
Klipmart products and technologies will remain available to all clients on both DART and non-DART platforms.
The firm will also bolster its rich media team with Klipmart’s video advertising campaign staff.
Klipmart CEO Chris Young becomes Executive Vice President of Rich Media for DoubleClick and will report to DoubleClick CEO, David Rosenblatt. Young co-founded Klipmart in 2000 with Tristan Amzallag and Maria Klink, who will also join DoubleClick’s product management and service teams.
Commenting on the deal, Young said, “Joining forces with DoubleClick gives us the unique opportunity to integrate the management and measurement of all rich media, display and search channels, providing customers with a combined source of digital marketing technology, service and reporting.”
In addition, DoubleClick will launch an Innovation Lab that will lead the industry in the development of new creative video concepts to multiple digital platforms.
Ben Regensburger, president DoubleClick International, said: “Klipmart has a superb reputation of creative innovation and video service. Combining these strengths with DoubleClick’s industry leadership, insight and global ad management platform will accelerate industry innovation in digital video and emerging advertising formats.”
Klipmart was represented by The Jordan, Edmiston Group, a New York City based investment bank that specialises in the media and information industries.
Financial terms of the deal were not disclosed.