(RTTNews) - AT&T Inc. (T) on Tuesday agreed to sell its global programmatic advertising marketplace, Xandr Inc., to Microsoft Corp. (MSFT). The financial terms of the deal were not disclosed.
The agreement builds on a decade-long relationship between Xandr, including its predecessor companies, and Microsoft for delivering global digital media solutions for advertisers.
Microsoft and Xandr can shape the digital ad marketplace of the future. Xandr's technology strategically complements Microsoft's current advertising offerings and will help accelerate delivery of digital advertising and retail media solutions for the open web by combining Microsoft's audience intelligence, technology and global advertising customer-base with Xandr's scaled, data-driven platform.
The transaction is subject to customary closing conditions, including regulatory reviews.
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