London-based online ad network Adconion has acquired KTV Digital Media, the Los Angeles-based digital video production and distribution firm. Terms of the deal were not disclosed. With this acquisition, Adconion is forming its own content development and syndication arm to be called RedLever…this arm will develop and distribute branded video entertainment for agencies and advertisers across the Adconion.TV network, which launched last month. Vuguru, the Eisner-backed digital studio, is using Adconion.TV to syndicate its new show “Back on Topps”. More details in release.
Adconion is heavily backed, and raised a big second round of $80 million earlier this year. It also bought Las Vegas-based direct marketer Frontline Direct later for about $20 million. Part of the money raised by it was to expand into U.S. and do these acquisitions.