US advertising and marketing agency Collective has acquired online video advertising network Web TV Enterprise, six months after opening the company’s first international office in the UK.

US advertising and marketing agency Collective has acquired online video advertising network Web TV Enterprise, six months after opening the company’s first international office in the UK.

Venture capitalist-backed Collective, which names Accel Partners, Greycroft Partners and iNovia Capital as investors, describes itself as a service provider of media and technology solutions for display and video advertising.

The purchase amount has not been disclosed; however in a statement, Collective chief executive Joe Apprendi says unlike most video networks, Web TV’s revenues come largely from broadcast media budgets.

He explains, ‘Our acquisition of Web TV will allow us to tap video’s incredible potential and further strengthen our rapidly expanding capabilities.’

Founded in 2006 by managing director Jamie Estrin, Web TV’s video ad network claims to reach more than 25 million online viewers a month. Commercial partners include Sony Music, iVillage, The Independent, E! Online and IPC Media.

Estrin adds, ‘The promise of online video advertising lies in its ability to allow brand advertisers to engage with their audiences within the most appropriate content environments, where the most impact and opportunity exist’.