Tuesday, April 29, 2008

Adify Acquired By Cox Enterprises

Atlanta-based Cox Enterprises said today that its subsidiary, Cox TMI, Inc. will acquire San Bruno-based Adify, a provider of online advertising. Financial terms of the deal were not disclosed. Cox said that Adify will remain in San Bruno, and will continue to be led by Russ Fradin, the firm's President and Co-founder. Adify develops technology for vertical online advertising, which allows publishers and advertisers to negotiate advertising rates. The firm is venture backed by Venrock, U.S. Venture Partners, GE Commercial Finance, NBC Universal, and Time Warner Investments, and has raised $27M in two rounds of funding.