AdNetworker

Burst Media has revealed the financial details of the acquisition of On The Phone Media (OTP).  Burst said they paid £1.6 million ($2.4 million) as an initial payment towards the acquisition of OTP.  Further details released about the acquisition indicated the size of OTP’s business, which has 11 employees, and OTP’s financials have also been revealed as well, which show profit before tax last year at £170,000 ($259,287) after various undisclosed adjustments.

Burst agreed to pay a total of nearly £3 ($4.5 million) if OTP’s profit before tax reaches £205,000 ($313,000) in 2010 and £375,000 ($572,078) in 2011.

Chief Executive Officers Jarvis Cocker said, “We look forward to the success that is possible backed by a proven offering and the industry’s leading salespeople.”

In Q4 of 2009, Burst Media acquired Giant Realm and paid a reported $2.1 million on the acquisition.  According to Brand Republic, about $11 million, or 42%, of its capital has been spent, but as of December 2009, Burst still had $5.7 million in the bank.

TechCrunch has reported that Burst Media has acquired the U.K. based ad sales rep firm OTP Media (OTP).  Terms of the deal were not disclosed.

OTP Media is one of the largest online advertising networks in the U.K. and focused on premium advertising for various verticals that include parenting, automotive, sport, food and entertainment.

Burst recently acquired Giant Realm for $2.1 million in stock and cash in October of 2009.