Telaria and Rubicon Project said they have finalized their merger, which they claim creates the world’s largest independent sell-side advertising platform.
Under the terms of the merger agreement, each share of Telaria common stock issued and outstanding on the date of closing will be converted into 1.082 shares of Rubicon Project common stock or cash in lieu of fractional shares. Rubicon Project CEO Michael Barrett will run the newly combined company, which for now will continue to trade on the New York Stock Exchange as RUBI. The companies said they will relaunch with a new name in the coming months.
“We are very pleased to begin this new chapter for the combined company,” said Barrett in a statement. “Going to market as the world’s largest independent omnichannel sell-side platform with robust CTV capabilities puts us in a great position to help publishers monetize across all auction types and help buyers safely and efficiently meet their campaign goals.”
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In a letter to clients and partners, Barrett said that it will take some time to fully integrate Telaria’s and Rubicon’s teams and technology, but noted that the two companies had already been working closely together before the merger.
Together, Rubicon and Telaria form a combined company that can reach thousands of buyers and brands, which they said will create a “global, independent alternative to walled gardens in the ecosystem.” Telaria’s specialization in video and connected TV gives Rubicon a boost for competing in the TV advertising space, something Barrett told Digiday would have taken his company years to build on its own.
Alan Wolk, co-founder and lead analyst at TV[R]EV, said the two companies combined could prove to be a successful part of the advertising ecosystem.
We need to see where things shake out, but these are two strong companies with different complementary skill sets, and if they can use Telaria’s TV skills with Rubicon’s programmatic skills, they can be a strong independent option,” he told FierceVideo.