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AOL agreed to acquire video ad exchange Adap.tv for $405 million in cash and stock, the company’s biggest deal since Tim Armstrong became CEO in 2009.

The deal comes on the day competing video ad company YuMe started trading on the NYSE and signals further consolidation in the cluttered ad tech space, where companies have invested billions over the past decade.

The deal is slightly larger than the $315 million Mr. Armstrong paid for Huffington Post in 2011, a purchase that gave the company additional size in online publishing and added a big personality to AOL’s executive ranks in the form of Arianna Huffington.

Continue reading at AdAge.com