Viant, an advertising technology subsidiary of media group Time, agreed yesterday to acquire US-based programmatic advertising platform Adelphic in a deal that will allow internet technology conglomerate Alphabet to exit.
Founded in 2011, Adelphic has built a mobile and cross-channel platform that enables agencies and brands to more precisely understand and reach consumers through their mobile devices.
Viant, which operates a cloud-based platform through which digital media investments can be managed, will add Adelphic’s technology to its own to create a demand-side platform that could potentially reach more than 1 billion people. The amount it will pay to buy Adelphic was not disclosed.
Adelphic had raised $23m in funding since it was founded. Alphabet led its $10m series A round in 2012 through its GV subsidiary, then known as Google Ventures.
GV and venture capital firm Matrix Partners, which had taken part in Adelphic’s seed and series A rounds, returned for an $11m series B in 2014 that was led by Blue Chip Venture Company.
Rich Battista, president and CEO of Time, said: “We know that in addition to premium content, advertisers are looking for more efficient buying processes for digital audiences.
“With Adelphic’s proven self-service capabilities, Time and Viant will be able to deliver greater programmatic competencies and benefits to our partners.”