Online ad rep Burst Media has bought London’s On The Phone Media for $2.38 million (£1.575 million), a company rep told paidContent. That was the initial part fo the deal; the terms also call for Burst to issue 1 million new shares of its stock to OTP Media’s vendors. The Burlington, MA-based company made the purchase with the intent of growing its UK business and continue to expand its publisher reach. The deal follows Burst’s acquisition of entertainment ad net Giant Realm last fall.
OTP Media opened its doors in 2002 and covers verticals including parenting, automotive, sport, food and entertainment.
Burst was the 16th largest ad network in the U.K. in February 2010, reaching nearly 12.3 million unique viewers. It’s not clear whether owning OTP will catapult Burst into the top 10, but it will likely help. Release