AT&T has snapped up adtech giant AppNexus in a deal estimated to be worth more than a billion dollars as it looks to bulk up its adtech capabilities, its second acquisition within a month.
The pair haven’t publicly disclosed the value of the transaction, but last week the Wall Street Journal sources placed it at circa $1.6bn amid talk of a takeover – earlier AppNexus had been valued at $2bn.
AT&T hopes the takeover of the adtech business will accelerate the growth of its ad platform, plus strengthen its presence in the fast developing advanced TV sector.
AppNexus will now become a part of AT&T advertising and analytics offering, led by the telecom’s chief executive of its advertising and analytics division Brian Lesser.
The transaction is expected to close during the third quarter of 2018, with each company continuing to operate independently afterwards.
“Innovation is core to the heritage of both AT&T and AppNexus, and we have an exciting opportunity to chart the future course of advertising together,” added Lesser.
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