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AdEffective to form JV with US-based Affinity

AdEffective to form JV with US-based Affinity

Online advertising company AdEffective (ASX:ABN) has agreed to combine advertising platforms with US-headquartered Affinity.

AdEffective said it had signed a MoU to combine its Footar platform with the InFooter platform operated by Affinity, a subsidiary of global hosting provider Hostway Corporation.

The co-operation will involve incorporating a new joint venture between AdEffective and Affinity, with the companies to work together to further develop the combined platform.

The joint venture will have access to around 30,000 websites worldwide.

AdEffective's global head of business development, Barry Green, said the deal should allow the company to “exponentially grow revenues for the new Footar business.”

He said Footar, which launched last year, had so far in 2011 served around 2 billion ad impressions across Australia, SEA and Latin America. Affinity's search monetization product meanwhile delivers an estimated 30 billion ad impressions per month.

A final agreement to form the new joint venture is expected to be reached within 30 days.

AdEffective earlier this month announced it would cease development of its domain name monetization platform, Yieldom, and divest three web assets, in order to focus on its Footar platform and syndicated online ad business AdFeed.

ABN shares stayed flat on Tuesday at $0.001.

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Tags joint ventureAdEffectiveAffinityonline advertisingASX:ABN

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