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CrowdGather, a company that buys online message-board communities and turns them into channels for advertisers, has acquired a digital advertising agency called Adisn. Woodland Hills, Calif.-based CrowdGather made its largest acquisition to date for $5.5 million in stock.

Adisn is based in Long Beach, California, and has developed what they call “relationship-based targeting.” Adisn’s technology mines data from social media to get an idea of people’s online behavior. Adisn pulls in information from blogs, web profiles and online conversations to build profiles and target advertising based on those profiles. Meanwhile, CrowdGather has been buying forums related to gaming, lifestyle and automotive sectors and the company boasts 4.5 million unique visitors each month at its properties.

While the company has been building its revenue through these acquisitions, CrowdGather has lacked an in-house sales force or an advertising platform, both of which Adisn brings to the table. Adisn will be a subsidiary wholly owned by CrowdGather. Adisn cofounder and CEO Andrew Moeck will continue as the president of Adisn.

Moeck is a serial entrepreneur who has co-founded two other companies before Adisn. Moeck’s previous efforts include Teleo, which was acquired by Microsoft in 2005, and Antirion, whose operations were acquired by Ticketmaster and SWT.

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