Filed under: Deals

Hot on the heels of its announcement Feb. 25 that it had raised $80 million in a Series C round led by European venture firm Index Ventures and existing investor Wellington Partners, three-year-old online advertising network Adconion Media Group said it would buy data management and direct marketer Frontline Direct for $20 million in cash and equity.

The deal follows Adconion’s purchase last July of the Australian advertising network Tempest Media. Adconion founder and CEO Tyler Moebius said the company is actively looking for additional acquisitions to expand both geographically and in the services it provides.

Moebius said Frontline has relationships with companies including ConsumerInfo.com, Inc. and Reunion.com that will dramatically boost Adconion’s reach in the e-mail marketing segment and it will boost its North American employee count by 25. The company also sees an opportunity to take Frontline’s business to Europe, where Adconion already has a large operation.

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This entry was posted on Tuesday, March 18th, 2008 at 5:15 pm and is filed under Engagements and Deals News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.