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Adconion, an online ad network, has acquired RedLever, a Santa Monica, Calif. based content distribution network. Financial terms of the deal were not disclosed. Adconion has raised $80 million in their third round of funding earlier this year from Index Ventures and Wellington Partners, some of which are now put to use. As part of Adconion, RedLever will develop and distribute branded video entertainment created specifically for agencies and advertisers across the Adconion.TV network which launched last month.
“As more dollars shift online and are drawn to high quality content we are forging ahead to evolve the ad network model into a next generation television network,” said Tyler Moebius, Founder and CEO, Adconion.
