Rubicon Project said it closed its acquisition of Telaria, further consolidating the ad-tech business.
By putting together two sell-side platforms, the company hopes to capitalize on the fast-growing connected TV ad market.
Each share of Telaria common stock will be converted into 1.082 shares of Rubicon Project stock, making the deal worth about $288 million.
The combined company will trade on the New York Stock Exchange under the symbol RUBI, but it plans to announce a new name in the coming months.
Michael Barrett, who headed Rubicon Project is the new company’s CEO and Mark Zagorski of Telaria, is the president and chief operating officer.
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