Entravision Buys Digital Ad FirmThursday, June 19, 2014
Spanish-language radio and TV station owner Entravision Communications Corp. of Santa Monica has acquired digital advertising firm Pulpo Media.
Entravision announced late Thursday that it’s paying $15 million in cash and up to $3 million more if Pulp meets goals. Pulpo handles services such as website monetization, data analytics, search engine optimization and ad sales for Web publishers. Pulpo is headquartered in Berkeley and has offices in Spain, Mexico and Argentina. The firm focuses on reaching Hispanic consumers.
Entravision is the largest owner of TV stations that are affiliates of the Univision Spanish-language network.
Walter Ulloa, Entravision chief executive, said the acquisition is noteworthy as a driver of growth.
"The addition of Pulpo Media is a strategic and highly complementary acquisition that will further strengthen our existing digital businesses," Ulloa said in a statement.
Entravision shares were flat in Thursday trading on the New York Stock Exchange, closing at $5.51.