Silicon Valley-based AdSupply, the display advertising platform, announced today it has entered into an agreement to acquire Washington state's Lion Digital Media, an online media agency for local advertising.
AdSupply is an adtech company that has also recently launched BlockIQ.com, which enables publishers to regain advertising revenue lost to ad blockers. The acquisition of Lion will enable AdSupply to provide advertisers and publishers with digital advertising in local markets.
"This acquisition supports our strategy by providing local news inventory through our programmatic direct digital marketplace," said Justin Bunnell, AdSupply's chief execuitve.
While AdSupply focuses on patented advertising technology, Lion Digital Media is known for its campaigns that run on local media websites.
"Local publishers operate some of the most visited and highly-regarded sites in every community," said Conrad Jungmann, Lion's chief executive. "Advertisers recognize the impact of local media, and Lion's relationships with these publishers run deep."
The Lion management team consisting of Conrad Jungmann, Greg Griffin, and Michael Koontz will remain with the company. Bentley Securities, based in New York, advised on the transaction.