Apollo does Ad deal worth $48 million

By Vivek | August 8th, 2007 at 11:40 am ET         

Apollo Group, provider of both online and on-campus education at, today announced it will acquire online advertising network Aptimus, Inc for $6.25 per share in an all-cash transaction valued at approximately $48 million.

To put things in clearer perspective, Apollo Group operates the University of Phoenix, Institute for Professional Development, and few other education institutes.

As for Aptimus, the company provides its services to Internet publishers and advertising customers including AOL, its subsidiary Advertising.com, as well as with other digital media affiliates and publishers.

Below is statement from Apollo -

“This acquisition is another step to strategically position the company to best monitor, manage and control our marketing investments and brand,” said Brian Mueller, president of Apollo Group. “Integrating Aptimus’ technology and very experienced team into our current marketing initiatives and service center model will take us to the next level in managing student inquiries and achieving further process and cost efficiencies in new-student enrollments.”

The acquisition is supposed to close in early fiscal 2008.