DoubleClick Buys Sabela From 24/7 MediaDoubleClick Inc. has purchased the intellectual property of Sabela Media Inc. from 24/7 Media Inc., DoubleClick said yesterday.
Financial terms of the deal were not disclosed. Sabela, an ad serving, tracking and analysis firm based in Australia, was acquired by 24/7 Media in January 2000.
As part of the transaction, 24/7 Media will retain all assets not associated with the intellectual property of Sabela Media, such as any patents it had acquired. Sabela has more than 150 clients worldwide.
24/7 Media said the sale of Sabela Media allows it to concentrate on the continued rollout of its Connect ad serving system, which is already deployed in the United States, Latin America and Canada.
"By monetizing the assets of Sabela, we are eliminating technology redundancies, reducing our cash burn and focusing exclusively on the expansion of 24/7 Connect worldwide," said Andrew Fawcett, vice president at 24/7 Media Technology Solutions.
24/7 Media will continue to support Sabela's clients in the short term. DoubleClick plans to offer Sabela Media's clients the option of migrating to its DART system or its AdServer platform.
DoubleClick said it purchased Sabela Media to strengthen its presence in Asia, its fastest-growing region. DoubleClick has about 150 clients in the region.