Credit: Leon Seibert via Unsplash
Magnite has acquired streamr.ai, a platform that uses AI to simplify Connected TV (CTV) advertising for small and medium-sized businesses.
The sell-side independent adtech firm will integrate streamr.ai’s tools across its ecosystem, making them available to agencies, retail media networks, publishers and DSPs working with SMB clients.
Financial details were not disclosed.
Magnite CEO Michael Barrett said complexity and high costs had slowed CTV’s uptake among small advertisers.
“The CTV advertising opportunity for small businesses is enormous, but it’s been bottlenecked by complexity and high costs,” Barrett said.
“Streamr.ai’s technology uses AI to accelerate this transition for SMBs, making tasks like CTV creative generation and campaign setup much easier.”
Co-founders Jonathan Moffie and Frank Turano will join Magnite.
Moffie previously led product at Wurl and held roles at OrkaTV, Yahoo and Shutterstock, while Turano has worked as an engineer at Shutterstock and Dotdash Meredith.
“Magnite is the perfect home for our technology and talent,” Moffie said.
“Magnite shares our vision for helping small businesses grow revenue through CTV advertising, and their relationships and resources will enable us to accelerate that process.”
Magnite said the deal supports its plans to deepen AI capabilities and expand revenue opportunities for CTV publishers.
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