adaptiveadsGlamMedia, an advertising and publishing network for women, has acquired AdaptiveAds, a three year old advertisement targeting and optimisation firm run by Sanjay Sharma and Yogesh Sharma. Through the acquisition, GlamMedia has forayed into the Indian market with an office in Mumbai. It plans to set up an engineering centre in Pune and hire talent here.

Interestingly, both companies are funded by Venture Capitalist Draper Fisher Jurvetson (DFJ); according to TechCrunch, AdaptiveAds had raised $2 million in late 2007, and another $1.5 million in a Series A funding.

AdaptiveAds develops solutions that tweak advertisements according to time of day, geographies and behavior targeting. Its other platform performs monitoring and optimizing of advertisements as well as recording and tracking. This has been integrated with GlamMedia’s own offering to bring GlamAdapt BrandWords – a flexible platform for designing and executing campaigns. The two new solutions will be launched later this quarter. AdaptiveAds’ employees in Mumbai will be retained at the engineering and product development centres while its Silicon Valley based employees will join Glam’s ad products team in Brisbane, California.

AdaptiveAds co-founder Sanjay Sharma will lead the team in India while CEO Yogesh Sharma will become Vice President & General Manager of Ad Solutions at Glam Media. Around 20 new employees will join GlamMedia. GlamMedia has two flagship properties: Glam.com and Brash.com and claims a network of over 900 publishers. Venture capitalist Draper Fisher Jurvetson funds both GlamMedia and AdaptiveAds.