UK Ad Network Adconion Buys Frontline Direct For $20M

UK ad network Adconion Media Group bought Las Vegas-based data management firm and direct marketer Frontline Direct for $20 million in cash and stock. Adconion itself raised $80 million from Index Ventures and Wellington Partners last week.

The WSJ says Adconion plans to use half of the money for acquisitions and technology investments and a quarter to expand in the US. Adconion sells ads on 350 Web sites including The Drudge Report, Sony’s Crackle and Demand Media.

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