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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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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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