Rubicon Project has announced it has reached a definitive agreement to acquire Chango for $122 million, primarily in stock.
Chango is Canada’s fastest-growing technology company, as recognized in 2014 by Deloitte’s Technology Fast 50 for Canada.
The Chango acquisition will enable Rubicon Project to expand its premium advertising marketplace with intent marketing technology that includes access to keyword, contextual targeting and retargeting budgets.
Through this acquisition the company will bring access to an additional $35 Billion of intent marketing spend to the Rubicon Project marketplace.
“The team at Chango has done an extraordinary job engineering and deploying their intent marketing technology; they have built terrific products and a stellar team,” commented Rubicon Project CEO Frank Addante.
“Chango’s technology brings keyword, contextual targeting and retargeting to premium display, mobile and video advertising. This will enable us to bring intent marketing budgets to an independent, open marketplace that serves premium buyers and sellers at scale for the first time. Our combined capabilities will help to grow and innovate, while also fueling a rapid acceleration of Rubicon Project’s overall Buyer Cloud business, advancing our technology roadmap and team build out by more than one year.”
The integration of Chango’s technology into the Rubicon Project marketplace will provide the platform’s entire base of premium buyers and sellers access to intent marketing capabilities.