Ad automation tech company Rubicon Project has announced it has reached a definitive agreement to acquire privately held Chango Inc., which specializes in intent marketing technology.
Chango is Canada’s fastest-growing technology company, as recognized in 2014 by Deloitte’s Technology Fast 50 for Canada. The aggregate consideration will be approximately $122 Million (including contingent consideration), primarily in stock.
The Chango acquisition will enable Rubicon Project to expand its premium advertising marketplace with intent marketing technology that includes access to keyword, contextual targeting and retargeting budgets. The rapidly growing intent marketing category is expected to surpass $35 Billion in 2015.
The acquisition also reinforces Rubicon Project’s direct order automation technology and rapidly expands its Buyer Cloud initiatives, specifically through the advancement of its Orders (Guaranteed Orders and Non-Guaranteed Orders) platform, and will increase direct integrations with premium brands and agencies that constitute a large base of Chango’s current customers, including more than 60 of the Fortune 500 advertisers.
“The team at Chango has done an extraordinary job engineering and deploying their intent marketing technology; they have built terrific products and a stellar team,” commented Frank Addante, CEO, founder and chief product architect, Rubicon Project. “Chango’s technology brings keyword, contextual targeting and retargeting to premium display, mobile and video advertising. This will enable us to bring intent marketing budgets to an independent, open marketplace that serves premium buyers and sellers at scale for the first time.
“Our combined capabilities will help to grow and innovate the $35 billion intent marketing category while also fueling a rapid acceleration of Rubicon Project’s overall Buyer Cloud business, advancing our technology roadmap and team build out by more than one year.”
The integration of Chango’s technology into the Rubicon Project marketplace will provide the platform’s entire base of premium buyers and sellers access to intent marketing capabilities.
Chango’s technology – processing one trillion page views per month and billions of search events from engines such as Google, Yahoo! and Bing – combined with Rubicon Project’s infrastructure and premium footprint of buyers and sellers will enable the data processing technology to be brought to market on a massive scale. While standard keyword search can indicate a basic level of intent, Chango’s technology takes basic keyword search data and delivers ads to consumers based on both the initial search, plus the contextual information from the content on a website or application’s page.
The end result for marketers is a sophisticated integration of search keyword and premium contextual targeting capabilities. The acquisition will also enable Rubicon Project to expand its price offerings in the future, evolving from a purely CPM (cost per thousand impressions) model to incorporate CPC (cost per click) and CPA (cost per acquisition) offerings currently under development by Chango.
“Rubicon Project has been the leader in advertising automation since its inception in 2007,” commented Chris Sukornyk, CEO and founder of Chango. “Joining the Rubicon Project team will enable us to collectively provide buyers and sellers with a more complete way of buying and selling premium advertising. This deal will enable us to leverage Rubicon Project’s massive reach of sellers, buyers and consumers to accelerate our combined market share and bring intent marketing to premium display, mobile and video advertising at an even greater scale.”
“Chango’s momentum, combined with Rubicon Project’s scale and holistic end-to-end offering, provides tremendous synergies for not only our business but for the entire marketplace. We expect this transaction to be accretive within the first twelve months with strong growth opportunities,” said Todd Tappin, COO and CFO, Rubicon Project.
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