LookSmart to Acquire the Assets of Syncapse
SAN FRANCISCO, Aug. 15, 2013 (GLOBE NEWSWIRE) -- 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.
Press spacebar to pause and continue. Press esc to stop.