The financial terms of the deal were not disclosed.
Print2Web, founded in 2001 in St. Petersburg, Florida, was one of the first companies to digitize print ads for newspapers. The company works with more than 450 newspapers and tens of thousands of local businesses, according to a news release.
“We look forward to leveraging OwnLocal’s global network and vast resources to help more local media organizations empower businesses in their communities,” Al Corey, founder and president of Print2Web, said in a news statement. With the acquisition, he is retiring. Print2Web’s other 30 employees will join OwnLocal.
The acquisition fits the mission of OwnLocal’s business which is to use technology to automatically turn traditional print, audio and video advertisements into online marketing campaigns. The company works with more than 3,000 newspapers including Gannet, tronc and Gatehouse Media. It handles digital ad campaigns for more than 100,000 local businesses every month. The addition of Print2Web allows OwnLocal to expand its partner network and the services it provides to its media partners.
“Newspapers have a difficult time offering affective and affordable digital solutions to their advertisers,” Lloyd Armbrust, founder and CEO of OwnLocal, said in a news statement. OwnLocal fills that need for small to medium sized businesses, he said.
OwnLocal, founded in 2010, has raised $3.45 million from 22 investors, according to Crunchbase. It is backed by Y-Combinator, Lerer Hippeau Ventures, Knight Foundation, Baseline Ventures and angel investors. OwnLocal has acquired four companies since 2011 including Whoosh Traffic, Sidengo, Smart Media Kit and Print2Web. It has 70 employees.