Alphabet is set to exit programmatic advertising software provider Adelphic, which has agreed to an acquisition of undisclosed size by Time subsidiary Viant.
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.”
