Thursday, July 26, 2007
AdECN Acquired By Microsoft
Santa Barbara-based AdECN, which operates an online advertising exchange marketplace, has been acquired by Microsoft. Microsoft announced the deal Thursday afternoon, but did not disclose terms of the deal. AdECN provides technology used for a real-time auction of display advertising on web sites. According to Microsoft, the acquisition is expected to complete in the first half of Microsoft's fiscal year 2008. AdECN was founded in 2003, and employs 30, who will become part of Microsoft's Online Services Business. AdECN has received at least $5.5M in venture funding, from Khalda Development, Novus, Labrador, and the Band of Angels.