Toronto’s SiteScout Acquires Intellectual Property of Online Ad Exchange AdBrite

Toronto’s SiteScout, a self-serve media buying platform, this morning announced the acquisition, through a subsidiary corporation, of “certain intellectual property assets” developed by online ad exchange AdBrite.

AdBrite was founded in 2002 as an ad network but pivoted to an ad exchange in 2008 before shutting down operations earlier this year. SiteScout is acquiring such IP as video, data management and optimization technology. The Canadian company says it plans to integrate these technologies with its own various products.

Terms of the deal were not disclosed.. But according to our sources, SiteScout did not acquire any hardware or employees of AdBrite.

“SiteScout is committed to providing marketers of all sizes with access to best-in-class technology. We have a long track record of developing tools that our customers ask for, and this deal will enhance our ability to deliver new technologies and capabilities quickly,” says SiteScout CEO Paul Mokbel.

“We are now at a stage where we can execute on opportunities that allow us to create real value for our customers. This transaction will allow us to enhance some of our current products, as well as introduce new products faster,” added SiteScout’s director of corporate development, Terry Taouss, said that this acquisition reflects SiteScout’s continued maturation and growth as a company.

SiteScout was recently ranked number one on the Canadian Startup Index this month and was last year named one of Canada’s hottest innovative companies.