Ad Exchange adBrite Closing Friday

Word came late Monday that Ad exchange adBrite is closing its doors.

According to an email sent to adBrite publishers and advertisers (which was obtained by TechCrunch), the company will cease operations this Friday, February 1st.

Dear adBrite Advertiser,

Over the last few weeks, adBrite and its management have been evaluating the go-forward plan for the business. Given market conditions and certain financial liabilities, in working with our lenders, we have decided to cease operations on Feb 1, 2013.

This is a difficult decision for all of us at adBrite. However, after much deliberation this seems to be the best course of action despite the impact it will have on all the employees, clients and partners who helped build this business. There will be a team in place as needed to assist with winding down your campaign, and final reporting and invoicing.

Thank you for being part of the adBrite community.

The adBrite Team

Prior to news of the pending closure, company sources indicated that executives had begun talks to possibly sell the firm, which employes 26 individuals. When a deal could not be reached, the decision to close down was made.