axelspringer.jpgAxel Springer and PubliGroupe have acquired online advertising company for EUR 214.9 million, the latest in the frantic rush by traditional companies to grab a stake in the online advertising industry.

Axel Springer will own 60 percent, PubliGroupe 40 percent. The acquisition is subject to approval by anti-trust agencies in Germany, Switzerland and Austria. Statement here.

Zanox, which focuses on performance-based advertising, had also been eyed by another company ValueClick, according to reports. It has about a million sales partners internationally that it targets for its clients. Founded seven years ago, it says it has more than 275 employees worldwide.

The terms let Axel Springer and PubliGroupe tailor Zanox to their needs, effectively splitting it into two companies to focus on their respective geographic areas of strength.