Germany-based ad network Adconion Media Group is moving quickly to spend the $80 million it raised a few weeks ago.
The company just announced that it has acquired Frontline Direct, a data management and direct marketing company, for $20 million.
Adconion, which we reported Fox Interactive was interested in, is using the acquisition to expand into North America. The company plans to open an office in San Diego and has existing offices in New York, Toronto, Santa Monica, and in several cities across Western Europe.
Frontline, which has 25 employees, does business with advertising agencies as well as consumer-credit reporting company Experian and reunion.com. The company features data management technology and email products and, according to Adconion president Keith Kaplan, will strengthen Adconion’s ability to offer branded solutions to advertising agencies and marketers, including video and email.
Adconion, founded in 2005, is fresh off a third round of financing of $80 million led by Index Ventures in late February.
David Adewumi, a contributing writer with VentureBeat, is the founder & CEO of http://heekya.com a social storytelling platform billed “The Wikipedia of Stories.”