LookSmart to Acquire the Assets of Syncapse
LookSmart, Ltd. (Nasdaq: LOOK), an online search advertising network solutions company, today announced it has entered into an agreement to acquire the key assets of Syncapse Corp. from its court appointed Receiver MNP Ltd. of Toronto, Ontario. The proposed transaction is subject to court approval, which is expected in the beginning of September.
"I am excited with the vision that Michael Onghai and the LookSmart team share for the future of internet marketing. This is a tremendous outcome, for Syncapse customers, as they get to work with a top-notch group with a bold vision for the future of marketing technologies, and carrying the Syncapse vision forward," said Michael Scissions, Syncapse Founder. "I'm proud to see our partnership with over 400 brands in over a hundred countries have the opportunity to live on."
This acquisition combines one of the first online search advertising networks with a best-in-class, enterprise-level social media management platform. The combined technologies will create a platform that allows marketers to manage the increasingly intertwined relationship between social engagement and paid media with must-have tools that allow them to tightly integrate their planning, execution, and measurement across all digital marketing investments.
"By uniting our technology platforms, we believe that we can create an unparalleled offering to ensure marketers can maximize their return on owned, earned, and paid media," said Michael Onghai, Chief Executive Officer of LookSmart. "LookSmart has the resources to ensure that all of Syncapse's customers will continue to benefit from the best-in-class products that Michael and his team have successfully built and implemented."
About LookSmart, Ltd.
LookSmart is a pioneer in online advertising. Founded in 1997, LookSmart has been connecting advertisers and agencies to high quality sources of inventory for performance marketing, and helps online publishers monetize their inventory through our award winning Ad Center platform. Our highly scalable technology processes billions of search queries on a daily basis, enabling marketers to bid in real-time across search and display inventory, and leverage intent data to get performance that meets aggressive campaign goals. LookSmart is based in San Francisco, CA, with offices in Los Angeles and Canada. For more information, visit www.looksmart.com or call (415) 348-7000.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.