Wednesday, September 23, 2009
Ripple TV Acquired By TargetCast
El Segundo-based Ripple has been acquired by TargetCast Networks, a San Ramon-based operator of a out-of-home digital advertising network. Financial terms of the buy were not disclosed. According to TargetCast Networks, the buy gives it 1400 locations and 3425 screens delivering local and national advertisements. TargetCast said it will rebrand Ripple's existing TV in its fast casual locations, integrate content and advertising delviery into a single format, and use its own hardware and software for additional new locations. Ripple Tv's former CEO, John McMenamin, has become Chief Revenue Officer at TargetCast network. Ripple had taken around $19.0M in venture capital from Draper Fisher Jurvetson and Trinity Ventures; TargetCast is venture backed by Claremont Creek Ventures. Ripple was formerly known as ActiveMaps.