Monday, July 6, 2009

Danoo Acquires IdeaCast

San Francisco-based Danoo, which operates an out-of-home media network, said this morning that it has acquired competitor IdeaCast. Financial terms of the acquisition were not disclosed. In conjunction with the buy, Danoo said that Kleiner Perkins Caufield & Byers and National CineMedia will become minority holders in the company. Danoo was venture backed by KPCB; IdeaCast was backed by National CineMedia. According to Danoo, it will continue to operate and sell advertising across both the Danoo and IdeaCast brands. Both Danoo and IdeaCast had been competing in what seemed to be an increasingly crowded field of out-of-home advertisers, those firms operating networks of video screens found at grocery stores, gas stations, health clubs, coffee shops, department stores, and other retailers.