Magnite acquires SpringServe for ~$31M to strengthen CTV ad serving

MAGNITE, INC.

Purchase price of approx. $31M net of prior $2M investment; closed July 1, 2021.
SpringServe provides CTV ad serving for publishers like Pluto TV, Sinclair, Univision, VIZIO.
Technology enables tighter integration between direct and programmatic inventory.
SpringServe CEO Joseph Hirsch will report to Magnite's CRO for CTV.
Acquisition structured via previously negotiated option from SpotX deal.

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