What Federated paid for Lijit
October 5, 2011: 4:49 PM ET
Federated Media paid just "south of $100 million" in stock to acquire Lijit Networks, Fortune has learned from multiple sources. The deal was announced earlier this month, but without any financial details.
Lijit is a Boulder, Colo.-based provider of advertising services, audience analytics and reader engagement tools for online publishers. Its CEO Todd Vernon will become executive vice president of technology at Federated Media, which is John Battelle's provider of ad solutions to blog and social media app publishers.
Lijit had raised over $26 million in VC funding since early 2007, from firms like Boulder Ventures, Foundry Group, High Country Ventures and Highway12 Ventures. No word on what valuations the firms paid, except that it was well below the sale price.
Federated Media has raised over $50 million of its own, from firms like Omidyar Network and Oak Investment Partners.
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