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Colorado-based advertising and analytics company Lijit has been acquired by Federated Media, the companies announced in a press release earlier today.
Terms of the sale were not disclosed, but both companies are said to be “thrilled” with the purchase details. The Lijit acquisition will bring Federated Media’s publisher relationships to about 77,000 as well as 15,000 “expert communities.”
Lijit was created in a basement in 2006, and has received just over $28 million in funding in five rounds since its inception. As a wholly-owned subsidiary of Federated Media, Lijit will remain in Boulder and add 30 to 40 people to its team in the wake of the acquisition.
In a press release, Lijit founder and CEO Todd Vernon gushed:
“Federated Media invented how to leverage authentic voices and engaged conversations that exist in the Independent Web… The combination of the two companies is a game changer in the industry that unlocks new opportunities for both companies through our combined publisher network.”
Of his own company, Vernon told Venture Beat:
“No one is cashing out. In fact, I only wanted to the do the deal if it was stock because I’m so excited about where the combined company is going.”
Vernon capped off the press release by saying that the “combination of the two companies is a game changer in the industry that unlocks new opportunities for both companies and [their] combined publisher network.”
