AT&T has announced the acquisition of advertising technology company AppNexus for an undisclosed sum, confirming recent reports. Privately-held AppNexus operates an independent ad exchange for buying and selling of digital ads, which would help AT&T compete better with Google and Facebook and monetise its new content assets at Time Warner. In a statement, AT&T said AppNexus and its staff including more than 400 software engineers and product managers will become part of advertising and analytics platform, expanding the latter’s footprint into Asia-Pacific, Australia, Europe, and Latin America. The deal is expected to close in the third quarter.
New York-based AppNexus originally planned to hold an initial public offering in early 2017 but backed out of the process, according to previous reports. It was then valued at around USD 1.5 billion to USD 2 billion. The company had raised around USD 344 million in private funding from investors including Deutsche Telekom and Microsoft since it was founded in 2007. – Telecompaper