DoubleClick Buys Up Klipmart
DoubleClick today announced that it has acquired online video solutions firm Klipmart. The objective of the surprising buyout is for DoubleClick to create a comprehensive rich media solution suite for video and non-video enhanced ad units. Klipmart products and technologies will henceforth remain available to all clients on both DART and non-DART platforms.
With the acquisition, DoubleClick hopes to better appease both creative agencies and media planners/buyers with the new technology infrastructure. Meanwhile, Klipmart has the ability to now leverage DoubleClick’s global technological resources and R&D investments.
Accordingly, Klipmart CEO Chris Young becomes Executive Vice President of Rich Media for DoubleClick and will report to DoubleClick CEO, David Rosenblatt. Young’s co-founders at Klipmart, Tristan Amzallag and Maria Klink, will also join DoubleClick’s product management and service teams.
In addition, DoubleClick will launch an Innovation Lab for the purpose of developing new creative video concepts to multiple digital platforms.
“Klipmart has a superb reputation of creative video innovation and service,” said David Rosenblatt, CEO of DoubleClick, in a statement. “Combining these strengths with DoubleClick’s industry leadership, insight and global ad management platform will truly accelerate industry innovation in digital video and emerging advertising formats.”
Chris Young adds, “Its global market place presence, technological resources and R&D investments, make DoubleClick the industry standard in digital marketing. The DoubleClick team demonstrated a remarkable commitment to accelerate industry innovation and to create a combined platform to deliver video advertising across all electronic consumer platforms. He continues, “Joining forces with DoubleClick gives us the 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.”
Klipmart was represented by The Jordan, Edmiston Group, Inc. in the transaction, though financial terms weren’t disclosed at press time.
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