Monday, April 25, 2011
ValueClick Buys Greystripe
Westlake Village-based online advertising firm ValueClick announced this morning that it has acquired Greystripe, an operator of a brand-focused mobile advertising network. The deal was worth $70M in cash. According to ValueClick, it has hired Greystripe's management team and employee base, and will run Greystripe as a wholly owned subsidiary of ValueClick Media. The company expects Greystripe to add $24 to $26M in revenues for the remainder of 2011. Greystripe was venture backed by Steamboat Ventures, Monitor Ventures, Peacock Equity, and Incubic Venture Capital, and was based in San Francisco. Greystripe was advised by Montgomery & Co. in the deal.