Joost Is Now Officially Dead – Assets Acquired By Adconion Media Group
November 24, 2009 at 09:17 AM EST
Adconion Media Group announced this morning that it has acquired certain key assets from Joost , the ill-fated online video service started by the infamous Kazaa and Skype founders Niklas Zennström and Janus Friis . The terms of the transaction were not disclosed, but it's likely a firesale that isn't bringing any returns to Joost's investors. Last June, Joost announced a change in its business strategy to focus on providing white-label video platforms, and Adconion says it plans to pursue this strategy. Adconion recently announced its first long-term licensing partnership as the exclusive display and video ad-serving solution for the Goldbach Media Group in Europe.