Ad network Undertone is making a push into video with the purchase of online video ad network Jambo Media. In an announcement, Undertone says its customers will now be able to manage display and video ad campaigns using its platform.
Terms of the deal were not announced. Jambo Media had not raised outside funding, although Undertone says the company was “highly profitable.” All 11 of Jambo’s employees are joining Undertone, which is backed by PE firm JMI Equity, which invested an undisclosed amount in Undertone two-and-a-half years ago. Many more details about the deal, including an FAQ, on this Undertone informational page here.