PRESS RELEASE
BOULDER, CO – October 4, 2011 – Lijit Networks, Inc., an innovative provider of advertising services, audience analytics, and reader engagement tools for online publishers, today announced that the company has been acquired by Federated Media Publishing. Under the terms of the acquisition, Lijit will become a wholly owned subsidiary of Federated Media Publishing. Financial terms of the deal were not disclosed.
“Federated Media has a clear reputation as the market leader for connecting advertisers with the best of the Independent Web,” said Todd Vernon, Founder and CEO of Lijit Networks. “The combined company provides publishers of all shapes and sizes with a huge opportunity to grow and monetize their websites through a complete set of advertising offerings that best match their audience and readership. At the same time, advertisers have an unprecedented opportunity to reach the best and most authentic content at enormous reach and scale.”
Key executives at Lijit will assume larger roles within the Federated Media organization. In addition to their current positions, Todd Vernon, Founder and CEO of Lijit, will become EVP of Technology at Federated Media; Manny Puentes, CTO of Lijit, will become SVP of Technology at Federated Media; and Walter Knapp, COO of Lijit, will become SVP of Platform Revenue at Federated Media. Seth Levine, Managing Director of Foundry Group, Lijit’s lead investor, will join the Federated Media Board of Directors.
“This transaction is a great outcome for Lijit, its employees and shareholders. While the details of the transaction itself weren’t released, this acquisition ranks among the most significant outcomes for the region in the past 10 years,” said Seth Levine, Managing Director, Foundry Group. “I’m thrilled to be a part of the Federated Media family and to continue my work with Lijit by joining the Federated Media board.”
Lijit’s headquarters will remain in Boulder, CO and the company plans to hire an additional 30-40 employees – primarily in engineering, operations, and publisher development – to support the next phase of company growth.
For additional information, please read the press release from Federated Media Publishing.
About Federated Media
Federated Media Publishing powers the best of the Independent Web. We believe that the majority of meaningful engagements across digital media occur via high-quality independent sites and services. These sites leverage top digital talent to attract influential audiences who together create meaningful dialogue. Brands benefit from improved loyalty and increased sales when they become part of this authentic experience. Learn more at www.federatedmedia.net
About Lijit Networks, Inc.
Lijit Networks, Inc. was incorporated in June 2006 and is headquartered in Boulder, Colorado. By providing innovative advertising services, audience analytics, and reader engagement tools to over 70,000 online publishers, commercial websites and content networks, Lijit helps publishers grow their website, build their business and make more money. Lijit connects publishers with premium online advertising campaigns that are highly targeted and contextually relevant to the publisher’s audience. Learn more at www.lijit.com.
