Following the acquisition, 60% of Joost's team will be folded into Adconion as it continues to operate Joost.com, providing clients with a destination site to showcase and distribute its branded entertainment content.
Adconion will focus on rolling out its pre-roll ad network and ad-serving technology, before licensing its video technology, such as the branded video player, monetisation rights management, reporting, video ad-serving and content distribution.
The acquisition aims to bring additional scale and content to Adconion's video pre-roll network and will also boost Adconion TV's library of video content, available for targeted pre-roll ads across 2,000 premium publishers. Adconion currently serves more than 80 million video streams per day to targeted audiences across 2,000 global websites.
Before the acquisition, Adconion offered targeted distribution of content, including video and television commercials, to audiences around the world, via Adconion.TV, as well as customised branded entertainment solutions for clients, through its exclusive relationship with the digital studio RedLever.
Earlier this week, Adconion struck a deal with Swedish mobile media business Goldbach Media Group, to expand its presence across mainland Europe.