UK Online Ad Network Adconion Gets $80 Million Funding; Expanding Into U.S.

All the ad networks are filling their coffers before the recession spreads to the online advertising industry, or at least that’s the reasoning most of them are giving. Now, Adconion, the UK-based online ad network which is also now expanding into U.S., has raised a big second round of $80 million, led by Index Ventures and previous investor Wellington Partners. Adconion plans to use a quarter of its new funding to expand its U.S. operations — half to invest in new technology and the rest for acquisitions, reports WSJ. Adconion announced its first round last year in April.

The company was founded in 2004, and sells ads on about 350 publishers sites, including the Drudge Report, Sony’s (NYSE: SNE) video site Crackle, and Demand Media. There was a rumor doing the rounds last year that Fox Interactive was in talks with Adconion to buy it, but seems like it didn’t pan out, or tat the rumors were false.