Cox to Acquire San Bruno-Based Adify for $300 Million

San Bruno, Calif. -- Cox Enterprises, the Atlanta-based media conglomerate, said on Tuesday that it will acquire San Bruno-based Adify, a provider of technology and services used by traditional media companies seeking to expand their online advertising offerings. Seveeral media outlets, including the Associated Press, put the value of the deal at about $300 million. Adify was founded by the same team that created Flycast Communications, an early online advertising service. The company is backed by venture capital firms Venrock Associates and U.S. Venture Partners, as well as GE Commercial Finance, NBC Universal and Time Warner Investments. Adify will operate as a stand-alone company and will continue to be led by Russ Fradin, its president and co-founder.
http://www.coxenterprises.com/corp/presscenter/viewPressRelease.asp?articleid=1106
http://www.adify.com/