6/25/2018, 6:35 PM (Source: TeleTrader)
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AT&T buys AppNexus; report puts price at $1.6B

AT&T Inc. reached an agreement to integrate AppNexus, operator of an online platform for advertisements, targeting consumers and measuring and optimizing results. The announcement published on Monday fails to disclose the value of the transaction, while the Wall Street Journal quoted anonymous sources familiar with the matter who claimed the price was set at $1.6 billion. It compares to unconfirmed information that the startup has confidentially filed for an initial public offering in 2016, targeting a valuation of up to $2 billion.

The acquired firm will become part of AT&T's advertising and analytics unit, the press release said. The telecommunications giant revealed the addition, bringing more than 400 software engineers and product managers on board, is aimed at boosting the position in advanced television advertising, together with artificial intelligence and predictive analytics. The move indicates the media company is building its presence in a realm dominated by Google and Facebook.

The transaction is expected by AT&T to close by the end of October, according to the statement.

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