Online ad rep Burst Media has bought entertainment ad network Giant Realm.
Terms of the deal weren’t disclosed. The company later said that the acquisition was for $2.1 million in stock and cash. The deal comes as the online ad sector still looks fairly weak heading into the holiday season; entertainment has been one of the few categories that are still attracting a healthy amount of ad dollars. Comcast (NSDQ: CMCSA) was one of New York-based Giant Realm’s investors through its Comcast Interactive Capital investment arm. The company has raised a total of $9 million to date. As for Burlington, Mass.-based Burst, this is one of the first major acquisitions the company has made since opening its doors about 14 years ago. Burst itself was actually the target of an acquisition this past summer, when Canada’s Cyberplex offered to buy the company for $16.5 million. Burst’s board rejected that offer, calling it “opportunistic,” according to a Reuters item at the time. Release