News Corp has invested $10 million in adtech company AppNexus as part of a $31 million strategic investment round.
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It’s a slightly awkward acquisition for the programmatic ad serving platform given that AppNexus on its web site boasts, “As an independent technology company that does not own or operate media properties or digital audience platforms, AppNexus is fully aligned with the interests of our customers.”
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“We’re deeply honoured to partner with one of the world’s great media and information services companies,” said Michael Rubenstein, President of New York-headquartered AppNexus. “Today’s announcement signals our joint commitment to innovation over the long term. As News Corp accelerates its digital expansion, AppNexus will provide leading-edge technology.”
As part of the deal AppNexus’ full suite of technology products will be available to News Corp’s businesses, several of which already use the AppNexus SSP and Yieldex Analytics, including Dow Jones, News UK, and News Corp Australia.
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“As we grow digitally and globally, News Corp continues to form strategic partnerships with leading technology companies like AppNexus,” said David Brinker, Senior Vice President, head of business & corporate development at News Corp. “As individual businesses in our company started adopting AppNexus products into their technology stack, we gained further appreciation for their services. We are pleased to invest in AppNexus as we continue our partnership across our news, real estate and technology assets.”
The announcement also augments AppNexus’ existing relationship with Unruly, a video advertising technology company that News Corp acquired in September 2015 for $176 million. Under that partnership, buyers and sellers of quality outstream inventory enjoy both the reach of AppNexus’ video buying platform and the quality and scale of Unruly’s viewable video SSP, UnrulyX, where 70 per cent of views are delivered across comScore 500 sites. Unruly and AppNexus will also look to grow the market for vertical video formats, the company said.
The funding announcement comes a week after adtech firm The Trade Desk made a strong debut on the NASDAQ, with its stock closing 68.61 per cent up on its IPO price.