AdTech Splits From CMGI, Acquires AdForce Technology
AdTech executives said investments from private donors would enable the company to go private. The company, based in Neu-Isenburg, Germany, plans to focus on technology as an application service provider.
Financial terms of the investment were not disclosed.
"By focusing on technology and an ASP approach, AdTech has reached a very strong position in the online marketing space and already serves customers in 11 European countries," said Michael Schultheiss, AdTech's CEO.
The company plans to integrate its technology with that of AdForce's and soon will release a new version of its ad management software.
"The concentration on technology is the right concept in the ad management business," Schultheiss said.
CMGI, which bought an 80 percent interest in ad-serving firm AdForce in 1999, closed the company in June 2000 after three months of finding no takers. The company had planned to merge AdTech's technology with AdForce's and expand its presence in Europe. CMGI acquired an 80 percent interest in AdTech in January 2000.
At that time, AdForce's closure threatened to leave several of 24/7 Media Inc.'s clients without the means to serve ads. 24/7 Media, which had been using AdForce to serve ads for its European clients, quickly deployed its Connect ad platform to take up the slack.