AOL Europe Acquires goviral

Wireless News
02-03-2011
AOL Europe Acquires goviral
Type: News

AOL Europe announced that it has acquired the video distribution network goviral.

According to a release, goviral distribute branded video content across the Internet for some of the world's largest and most esteemed brands, media agencies, creative agencies, and content producers.
The transaction will further strengthen AOL's video offerings in Europe and North America and will deliver further scale, placing it in pole position to expand its reach internationally, engage new highly targeted consumer audiences and serve its advertising partners. AOL has completed the purchase of goviral A/S for $74.1 million. In addition, $22.6 million of consideration will be deferred and paid over two years following completion. goviral is set to join other strategic acquisitions made by AOL in 2010 including StudioNow, 5min Media, TechCrunch, Thing Labs, Pictela and most recently, about.me.

"Video is core to AOL's consumer programming strategy and goviral has created a platform that delivers highly measureable and cost effective solutions to publishers and advertisers," said Kate Burns, SVP, AOL Europe. "We believe that goviral offers a unique proposition in today's market, and allows us to match our ambition for premium content creation and engaging advertising, with highly targeted distribution at scale. We look forward to welcoming this truly talented and innovative team."

goviral will retain its offices in the UK, Germany, France, Denmark, Sweden and Spain - and further global expansion is planned. goviral's current video content distribution network includes more than 18,000 publishers across 24 verticals, allowing its clients to reach well over 350 million global Internet users and generate more than 60 million video views monthly. Specializing in the distribution of viewer-activated videos it has delivered campaigns for some of the world's most progressive and well known brands including: Nike, LG, Unilever, Paramount, Nokia, Hyundai/Kia, Audi, Nintendo and Gucci.

"We're excited to be joining AOL, a company with vision, that truly understands the shifting dynamics of the Internet," said Rene Rechtman, CEO, goviral. "AOL has made a clear commitment to deliver great original content, and with their strong U.S. position, it is a great accelerator for us to grow internationally and realize the potential of video. We simply believe and have experienced that good content is a key driver to reach and engage audiences globally. Working with a strong global brand such as AOL we are able to bridge the best of both worlds; scale and quality content that has relevance and resonance for users, advertisers and publishers."

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