DoubleClick buys assets from rival

DoubleClick, an online advertising network and technology company, says it has bought the intellectual property assets of Sabela Media from competitor 24/7 Media. Financial terms of the deal were not disclosed.

The sale comes nearly 16 months after 24/7 Media bought the Australian company, which provides ad serving, tracking and analysis to 150 clients worldwide, with a focus on the Asian market. Under the deal, New York-based DoubleClick will eventually expand its offering to Sabela's clients, extending its growing market in Asia and Europe. By selling the intellectual property assets of Sabela, 24/7 said it would eliminate "technology redundancies" within its own ad-serving network, reduce costs, and focus on worldwide expansion.