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DoubleClick snaps up video firm Klipmart

LONDON - DoubleClick has acquired online video advertising company Klipmart as part of its plan to integrate its rich media, display and search channels to create a digital media platform.

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The deal will allow creative and media agencies to combine the two companies' resources, and integrate Klipmart's video and DoubleClick's DART Motif and DART ad management technologies, with Klipmart products and technologies to be available to clients on both DART and non-DART platforms.

Yesterday Klipmart announced it was to launch in the UK an expand into Europe headed up by Becca Ratcliffe.

The deal gives DoubleClick access to the emerging online video market and will help the company innovate digital video and emerging advertising formats. The company plans to launch an innovation lab to educate the industry in new creative video concepts and developments for digital platforms.

Chris Young, Klipmart CEO and founder, will become executive vice-president of rich media for DoubleClick and will report to DoubleClick CEO, David Rosenblatt. Young's co-founders Tristan Amzallag and Maria Klink will also join DoubleClick's product management and service teams.

Ben Regensburger, president of DoubleClick International, said: "Klipmart has a superb reputation of creative innovation and video service. Combining these strengths with DoubleClick's industry leadership, insight and global ad management platform will accelerate industry innovation in digital video and emerging advertising formats." 

Chris Young, CEO of Klipmart, said: "The DoubleClick team demonstrated a remarkable commitment to accelerate industry innovation and to create a combined platform to deliver video advertising across all electronic consumer platforms.

"Joining forces with DoubleClick gives us the unique opportunity to integrate the management and measurement of all rich media, display and search channels, providing customers with a combined source of digital marketing technology, service and reporting."

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