Adconion Media Group has acquired Frontline Direct Inc. for $20 million in cash and equity. Adconion operates an online advertising network, while Frontline offers list management, lead generation and e-mail marketing services.
The acquisition of Las Vegas-based Frontline brings along client relationships with interactive advertising agencies; ConsumerInfo.com and Reunion.com. Frontline’s 25 employees are expected to remain.
Last month Adconion announced that it had raised $80 million in capital from London-based venture capital funds (Index Ventures and Wellington Partners) to finance expansion of its Web site advertising network in North America and Asia.
Its online advertising network reportedly reaches 200 million unique Web site visitors in various markets worldwide though existing operations in Europe and Australia.
Adconion maintains its U.S. headquarters in Santa Monica, CA. It has offices in New York, Toronto and in several European cities. It has plans to open a new office in San Diego.
