In an earlier report per techcrunch Comcast is nearing a finalization for its acquisition of FreeWheel which is said to be closing in along the lines of 320 million. FreeWheel is a video ad agency that aids clients in administering ads alongside videos on the web and across a range of devices.
The platform is used by many big networks including ESPN, FOX, ABC, Sky, Turner, among a slew of others. The company helps increase client revenue in allowing them to easily and efficiently insert their advertising campaigns within the digital domain.
The agency was formed back in 2007 and boasts offices in New York, London, and Beijing with their headquarters nestled in Silicon Valley.
At this time the acquisition has not been formally announced but sources have stated that the deal is nearing a close—though “financial terms” are yet to be finalized. Those with close involvement in the arrangement have also disclosed that FreeWheel will continue to operate and serve clients independently.
It was just last month that news of Comcast acquiring Time Warner was flooding our ears, now with Comcast purchasing FreeWheel it is apparent that the company is making advancements to carve out their future while progressing their advertising footprint.