comScore said Wednesday it acquired AdXpose, which provides verification and optimization services, for $22 million in a stock-based transaction.
comScore acquired AdXpose for the technology and talent, according to Linda Abraham, comScore CMO. "We think they have excellent technology, as well as an excellent team and leadership," she said. "We plan to leverage all three."
AdXpose changed its name from Mpire in April and appointed Kirby Winfield as the company's CEO. At the time, it also announced a $3 million funding round, and touted that revenue and impressions grew 150% each quarter in 2010.
No layoffs are planned. The entire AdXpose staff will join comScore. Abraham said employees will integrate into comScore's AdEffx team. Their verification and brand safety platform will combine with comScore's Campaign Essentials product, which will roll out globally. The AdXpose product will become an integral part of comScore's complete advertising analytics solution.
Winfield confirmed that he will stay on and continue to run the business. "This is a huge opportunity to bring enterprise level sales, scale, and accountability to the verification space," he said. "At the same time, it provides a one-stop solution for every metric a buyer or seller needs via one combined tag."
Headquartered in Seattle, with offices in New York, AdXpose lets advertisers verify and optimize billions of campaign data points captured in real-time. The goal is to increase ROI by realizing more profitable margins and measurable ad effectiveness.
AdXpose has several patents pending. As an SaaS platform, the technology captures real-time event data for every campaign impression that is appended with an AdXpose tag. The append process is implemented within the ad server environment via a macro of integrated drop-down functionality within the ad server. AdXpose Analytics records information including where the ad rendered and how it was interacted with or blocked from being viewed.
comScore also reported Q2 2011 results rose 38% to $58.1 million, compared with the year-ago quarter. The company notes a GAAP loss before income taxes of $6.2 million and net loss of $8.2 million, or 26 cents per basic and diluted share. Non-GAAP net income in the second quarter of 2011 came in at $5.4 million or 16 cents per diluted share. Adjusted EBITDA was $11.1 million in Q2 2011, up 23% from adjusted EBITDA of $9.0 million in Q2 2010.