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May 9, 2008

AdMission Sells Some Assets to Cobalt

Post written by Fred Aun.

AdMission, a developer of dynamic display ads for small and local advertisers, has sold "certain assets" to The Cobalt Group. The companies did not confirm a report that the assets in question are its Spotlight Ads division, and would only say the deal was needed to keep up with the times.

"Online advertising is an extremely exciting and rapidly evolving market and display advertising is the fastest growing segment of the category," said a statement posted to AdMission's site. "AdMission has pioneered the concept of highly effective dynamic ad formats that will shape the industry in the years to come. To fully achieve the potential of the AdMission ad platform we believe it needs to be part of a larger entity with considerable sales and marketing resources behind it."

The company re-assured its customers it will continue working with and supporting them. In fact, it said they can look forward to "a major enhancement release" of the platform in this quarter.

Cobalt provides digital marketing services to more than 10,000 companies in North America including a big chunk of the automotive industry.

"Support for the AdMission platform, partners and customer base will be retained in San Ramon, CA as a division of Cobalt," noted AdMission, adding that most of its current customer support, development, IT and integration staffers "are remaining on the team."

Posted by Zachary Rodgers at May 9, 2008 3:38 PM

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