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News Corp to invest $10m in ad tech firm AppNexus

29.09.2016
News Corp to invest $10m in ad tech firm AppNexus

AppNexus has revealed that it has raised $31m in an investment round, including a $10m investment from publishing giant News Corp.

As part of the deal, the ad tech company’s supply-side platform products will be made available across News Corp’s businesses, including Dow Jones and News UK. It also deepens AppNexus’ ties with video advertising firm Unruly, which has been owned by News Corp since September 2015.

WPP has owned a near-15% stake in AppNexus since late 2014.

“We’re deeply honoured to partner with one of the world’s great media and information services companies,” said AppNexus president Michael Rubenstein. “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.”

News Corp’s senior vice president, head of business and corporate development, David Brinker added: “As we grow digitally and globally, News Corp continues to form strategic partnerships with leading technology companies like AppNexus.

“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 investment round follows news of The Trade Desk’s IPO on the Nasdaq last week, with its shares beginning trading at up to $30 per share.


Source:
http://mandmglobal.com/news-corp-to-invest-10m-in-ad-tech-firm-appnexus/