Hydra Acquired By Adknowledge

Los Angeles-based Internet advertising firm Hydra, which operates a cost-per-acquisition affiliate advertising network, has been acquired by Adknowledge, Adknowledge said this morning. Adknowledge is based in Kansas City. Financial terms of the acquisition were not disclosed. Adknowledge said the acquisition will make it the largest affiliate network measured by its CPC and CPA offers. The company also said it will retain Hydra's brand in the near term, and operate it alongside its Adstation efforts. Impact on Hydra's local operations was not disclosed. The acquisition of Hydra comes only six months after a major restructuring by Hydra, where founder and CEO Zac Brandenberg and a group of investors took over control of the firm and implemented major efforts to improve traffic quality of its network. Hydra was advised by investment bank Petsky Prunier in the deal, with Adknowledge represented by Gibson, Dunn & Crutcher LLP.