Irvine-based online media company Local Corp. announced the sale of its Rovion subsidiary to McLean, Va.-based media company Gannett Co. for an undisclosed amount.

Gannett will acquire Rovion, which is based in Boston, and all related assets under terms of the agreement.

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Rovion's primary product is called Ad Composer, which includes a self-service technology platform that creates mobile HTML 5 ads without the use of coding.

Gannett said the acquisition will enable it to expand its mobile and self-service digital platforms.

Rovion will be part of Gannett’s digital marketing and technology provider PointRoll.

Local Corp.’s shares were down slightly to $2.70 per share during midday trading, with a market value of about $60 million. Shares had risen about 75% over the course of the week. Local Corp. has 135 employees in Orange County.