Monday, November 3, 2008

Perfect Market Acquires MediaRiver

Pasadena-based Perfect Market, which is developing technology to help publishers monetize their archive content, said Monday that it has acquired technology from Mediariver, which can be used to match content and advertising to any web page. Financial terms of the acquisition were not disclosed. Perfect Market said that the entire MediaRiver team, including its founder and CTO, have joined the company. MediaRiver CTO Dr. Jay Budzik will become CTO at Perfect Market. Perfect Market is venture backed by Idealab, Trinity Ventures and Rustic Canyon Ventures. MediaRiver was based in Chicago, and was formerly known as Intellext; the firm's technology was originally developed at the Intelligent Information Laboratory at Northwestern University. Perfect Market is developing technology to mine the archives of publishers, and make that content available on the web and easily indexable by search engines.