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Mergers & Acquisitions

Rubicon, Telaria to Form Ad-Selling Powerhouse

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Published: December 19th, 2019
The two ad tech companies announce a merger to gain clout in video and digital advertising landscape that includes Google, Amazon and Facebook.

Advertising technology companies Rubicon Project Inc. (RUBI) and Telaria  Inc. (TLRA) have agreed to a merger with the aim of building clout in a video and digital advertising landscape that includes Alphabet Inc.’s (GOOGL) Google, Amazon.com Inc. (AMZN) and Facebook Inc. (FB).

Rubicon Project will pay 1.082 shares of its stock for each share of Telaria, which The Deal named a potential target in May. Together, the companies will be the largest supply-side platform, or SSP, that allows publishers to sell ad space on connected TVs, the web, traditional video outlets, audio formats and mobile devices.

Shares of Rubicon Project closed up 7% at $7.73 on Thursday, implying a valuation of $8.36 per share for Telaria. Based on Telaria’s nearly 46.2 million diluted shares in its third-quarter report, the deal implies a roughly $386 million total equity value.

Telaria gained 11.4% to close at $8.38 on Thursday.

Editor’s note: The original version of this article, including advisers and other details, was published earlier on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a free trial.

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