"Comcast's investment in our business and our future innovations will accelerate our ability to deliver on our vision, providing us with the strength and staying power that our clients demand, while maintaining our commitment to the success of our extensive and diverse customer base," Doug Knopper, co-CEO of FreeWheel, wrote in a blog post announcing the deal.
Knopper, along with co-CEO Jon Heller and CTO Diane Yu, have signed multiyear agreements to stay on in their current roles with Comcast.
FreeWheel's platform facilitates the cross-platform insertion of advertising in on-demand programming and live streaming feeds, making it easier for content companies and distributors to squeeze more advertising revenue from their content offerings over time. FreeWheel is known for its ability to offer highly targeted advertising insertion based on a range of user-specific factors that are attractive to advertisers.
Based in Silicon Valley, FreeWheel has worked with a host of top-tier clients since it was founded in 2007, including Promotional Code, Fox and NBCUniversal, Turner Broadcasting and AT&T.
"We are fully committed to seeing our dream become a reality within the Comcast family," Knopper said. "We look forward to continuing to play an important role within the TV ecosystem, working to the benefit of programmers, operators, and our partners."