Amazon.com Inc.'s advertising unit on May 31 confirmed that it is buying assets from bankrupt advertising company Sizmek Inc.
Amazon Advertising said it will acquire Sizmek's Ad Server and Dynamic Creative Optimization, or DCO, and will continue serving the platforms' customers.
Financial terms of the deal were not disclosed, but Amazon said the two platforms will continue to operate separately from Amazon Advertising "for the time being."
Sizmek's Ad Server offers clients solutions to create, distribute and optimize their ads, while the company's DCO technology allows users to create ads that are personalized to specific audiences.
Bloomberg News reported about the potential transaction May 16, saying the move is expected to challenge Google LLC's online ad business.
The transaction comes as Sizmek is in the process of offloading assets after filing for bankruptcy protection on March 29. At the time of the filing, Sizmek declared assets of between $100 million and $500 million. It also estimated around 1,000 to 5,000 creditors, including Amazon Web Services Emea Sarl, in which it owes more than $1.3 million, as well as Google, in which it owes nearly $4.6 million.
Earlier in May, Sizmek has also completed the sale of its data and programmatic platforms Sizmek DSP and Sizmek DMP to marketing technology company Zeta Interactive Corp. for approximately $36 million.