Cox Confirms Acquisition of Adify Ad Network

Cox Enterprises has confirmed that it has acquired vertical online advertising network company, Adify Corp.

Adify provides Build Your Own Network technology, which empowers media companies to increase their reach and boost revenue. Backed by Venrock and US Venture Partners, this Silicon Valley company will become part of Cox TMI in a transaction expected to complete in May.

Cox is a leading player in the automotive media vertical, but has pledged to remain committed to serving the broader media industry through Adify.

Some sources are reporting that the deal is valued at $300 million.

Acquisition time on the web

Idearc acquires Switchboard

Idearc, which publishes Verizon Yellow Pages, is set to acquire Switchboard from InfoSpace for $225 million.

Switchboard provides local online ad solutions and online yellow pages and assists consumers to find and compare local businesses offering specific products and services, while also creating revenue opportunities for merchants.

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Yahoo acquires Zimbra

Yahoo has also been on the acquisition trail. In a mostly cash deal, Zimbra will be changing hands for $350 million. The open source enterprise email provider is based in San Mateo and received $30.5 million in venture funding across three rounds. Investors included Accel, Benchmark and Redpoint Ventures.