In a move that is designed to accelerate industry innovation in digital video and emerging ad formats, DoubleClick has purchased online video advertising and management solutions company Klipmart.

Klipmart brings to DoubleClick a strong record of creative innovation, video service and relationships with the community of creative agencies. The combination of those assets with DoubleClick's industry-leading ad management and workflow platform for digital media creates a comprehensive rich media solution suite for video and non-video enhanced ad units. Klipmart products and technologies will remain available to all clients on both DART and non-DART platforms.

Klipmart has focused on popularizing online video, and its product suite is widely accepted by the web's premier publishers and interactive agencies-- many of whom are also customers of DoubleClick. Leveraging DoubleClick's global market place presence, technological resources and R&D investments, the Klipmart innovation team will be well positioned to deliver video advertising across all electronic consumer platforms.

Klipmart CEO Chris Young becomes executive vice president of rich media for DoubleClick and will report to DoubleClick CEO David Rosenblatt. Young, who co-founded Klipmart in 2000 with Tristan Amzallag and Maria Klink, has successfully built it into a leading video advertising specialist. Amzallag and Klink also join DoubleClick's product management and service teams.

DoubleClick is committed to investing in and continuing to grow its rich media team, which now accounts for more than 100 people globally. In addition, DoubleClick will launch an Innovation Lab that will lead the industry in the development of new creative video concepts to multiple digital platforms.