NEW YORK (AdAge.com) -- Gannett Co., continuing the trend of traditional media companies looking for alternative advertising opportunities, has acquired privately held interactive ad technology company PointRoll, the companies announced.
Six times revenue
Terms were not disclosed, though executives close to the deal said it was worth $100 million, which was six times the revenue for the Fort Washington, Pa.-based PointRoll, and 18 times earnings before interest, taxes, depreciation and amortization.
PointRoll's vice president of marketing, Mitch Rose, declined to comment.
The Jordan, Edmiston Group brokered the deal.
PointRoll is a provider of rich media marketing services and technologies that allow advertisers, agencies and online publishers measure impact from their online advertising campaigns.
Gannett, based in McLean, Va., is one of the world's biggest media companies, with 101 daily newspapers -- including USA Today -- and 21 TV stations in the U.S. But this is its second significant effort to diversify beyond its newspaper roots. In April 2004, Gannett purchased the Captivate Network, which distributes news feeds in elevators.
PointRoll will join Gannett's USA Today division. Chris Saridakis, formerly PointRoll's chief operating officer, was named CEO. Jules Gardner, who was the company's founder and CEO, announced he is leaving the company. "It was a personal decision," Mr. Rose said.