Cox Enterprises’ subsidiary Cox TMI has acquired Adify, San Bruno, Calif.-based company that boasts of technology designed to facilitate online advertising networks, for $300 million.Adify’s "Build Your Own Network" technology platform provides small or niche Web sites with the ability to create makeshift online advertising networks by pooling their inventory and resources. The company claims to have helped power over 100 ad networks, ranging from the recently launched blogger-focused network Six Apart Media to Martha Stewart Omnimedia’s Martha’s Circle.
“Adify’s commitment to customer service and innovation in powering vertical advertising networks for its customers has been key to its success and is a great match for Cox, a company that has served the advertising community for over a hundred years through its various media platforms,” said John Dyer, executive vice president of finance at Cox Enterprises.
Cox officials said that Adify will continue to operate as a stand alone company, led by president and co-founder Russ Fradin.
Read More
