Monday, July 28, 2008

Quova Buys Verifia

Mountain View-based Quova, a provider of geolocation services, said Monday that it has acquired Verifia, a provider of gelocation software. Financial terms of the deal were not disclosed. Verifia operated NetGeo, a service which used web visitors' IP address to geolocate where they were located. Quova said that Verifia's customers, which include American Express, Boots, and the British Columbia Lottery Corporation, will become Quova customers. Verifia was based in Pleasanton, and was backed by LG Venture Capital, Alps Information Technology Fund, Daesung Corporation, and angel investors, including Michael Yang. Both firms' products are used for ad targeting, preventing fraud, and other web applications.