Massive online ad network Adknowledge has acquired Facebook advertising provider AdParlor, a move that will give Adknowledge a much better handle on the quickly growing social ad space. Terms of the acquisition were not disclosed.

“AdParlor has had impressive traction with Facebook ads and is at one billion impressions a day on Facebook,” Adknowledge CEO Scott Lynn told VentureBeat. “It was an easy sell.”

Adknowledge operates the fourth largest marketplace on the web where advertisers and sites can connect. We heard back in January that Adknowledge had raised $200 million in debt and private equity so it could pursue a set of acquisitions to strengthen aspects of its huge network.

Toronto-based AdParlor, which is one of the leading Facebook ad management services, makes a ton of sense for acquisition. Though Adknowledge has made incredible strides in the long-tail advertising in display ads, casual gaming and email, it wasn’t providing a high level of service with social ads. Since Facebook has more than 750 million members and its advertising abilities improve constantly, Adknowledge’s team knew it wanted to dig deep into the growing space.

“We’re thinking long-term about how big this space will get,” Lynn said. “With Facebook’s users spending an average of 30 minutes a day on the site, there’s a major opportunity here for advertisers.”

Kansas City, Mo.-based Adknowledge was founded in 2004 and has additional offices in Los Angeles, New York and London. AdParlor’s team will stay in Toronto, but that office will become Adknowledge’s Toronto branch. Adknowledge won’t officially disclose revenue numbers at this time, but we’ve reported previously that the company earns more than $300 million in revenues annually. And with AdParlor in hand, we’d expect that number to keep rising up.