Joost owner Adconion acquires Smartclip

California-based Adconion Media, the owner of Joost Media, has acquired European digital video advertising specialist Smartclip.

Adconion said the acquisition would strengthen its position in online video in its existing markets and accelerate the deployment of its digital distribution platform into the emerging  markets of central and eastern Europe and into the connected TV business.

Smartclip’s proprietary in-stream video and connected TV technology will be integrated with the Adconion platform, which delivers ads and content across display, email, social and both in-banner and in-stream video.

Adconion said that the deal would extend its reach from its existing 687 million monthly unique users to include over 500 new publisher sites from the Smartclip portfolio. Adconion also said the acquisition would also strengthen Joost’s position in the online video advertising and content syndication market.

“The online video and web TV market is incredibly fragmented across the globe and there is a shortage of quality in-stream inventory,” said Bruce Wiseman, chief operating officer of Adconion Media Group, North America. “Many opportunistic video brokers are reselling the same inventory and essentially adding little value to the advertisers, publishers and content producers. We are seeing the same market evolution in video inventory that occurred in premium display a few years ago.”

With the acquisition of smartclip, Adconion will gain 118 employees in Europe taking the company to over 700 employees globally, operating in 27 offices in 17 countries.