Adconion Media Buys Smartclip

Adconion Media Group, the European advertising network firm which as significant operations in Los Angeles, said today that it has acquired smartclip, a European digital video advertising firm. Financial terms of the buy were not disclosed. Adconion said that the acquisition will "significantly strengthen" its position in online video. Smartclip adds around 500 new publisher sites to Adconion's network. According to Adconion, it will use the acquisition to help solidify its video advertising business, Joost, which is headquartered in Santa Monica. The company said that it will add 118 employees in Europe, and 27 offices in Europe via the buy.