Site Scout buys defunct AdBrite IP assets
Site Scout Inc. has announced that is has purchased intellectual property assets produced by AdBrite Inc. Site Scout is a company that deals with advertisement technology, while AdBrite Inc. is a San Francisco-based online ad exchange firm. No financial terms were disclosed.
AdBrite, a company started in 2002, included DAG Ventures, Mitsui Ventures, and Sequoia Capital as investors. The company ceased its business in February this year.
"SiteScout is committed to providing marketers of all sizes with access to best-in-class technology. We have a long track record of developing tools that our customers ask for, and this deal will enhance our ability to deliver new technologies and capabilities quickly," said chief executive officer of Site Scout Paul Mokbel.
Terry Taouss, Site Scout's Director of Corporate Development, stated that the buyout shows the company's growing maturity. "We are now at a stage where we can execute on opportunities that allow us to create real value for our customers. This transaction will allow us to enhance some of our current products, as well as introduce new products faster," he explained.