Joost’s been put out of its misery and its assets have been acquired by Santa Monica, California-based online ad network Adconion Media Group.

Terms of the deal were not disclosed, but likely would have been pennies on the dollar, compared to the money that was invested in the once much-hyped online video service. Adconion is also part funded by Joost backed Index Ventures.

[1]Read more from Paid Content [1].