Comcast to buy online ad technology firm FreeWheel Media for $320 mn
05 Mar 2014
Comcast Corp, the largest cable operator in the US, is buying online ad technology firm FreeWheel Media Inc for about $320 million.
The deal comes just three weeks after Comcast proposed to acquire Time Warner Cable for $45 billion. (See: Time Warner Cable to merge with Comcast in $45-bn deal)
Based in Silicon Valley, FreeWheel inserts and tracks advertisement on the web and mobile video based on users location and recent viewing history.
The privately-held company's clients include Fox, NBCUniversal, AOL, AT&T, ESPN, VEVO, and many others.
FreeWheel was founded in 2007 and is backed by Steamboat Ventures, Turner Broadcasting, DIRECTV, Battery Ventures, and Foundation Capital.
Post acquisition, FreeWheel is expected to run as a separate stand-alone unit within Comcast, and its entire team is expected to stay on.
