- Ad-tech firm Rubicon Project (RUBI) says it will acquire "intent marketing" technology provider Chango for about $122M, mostly stock.
- The firm says that deal will let it expand its premium offerings with keyword, contextual targeting and retargeting budgets and give it access to an additional $35B of intent marketing spend.
- It also will accelerate Rubicon's Buyer Cloud business, "advancing our technology roadmap and team build-out by more than one year," says Rubicon CEO Frank Addante.
- Chango processes 1T pageviews/month and billions of search events from leading search engines.
- Rubicon Project reaffirmed its Q1 outlook and set a conference call to discuss the Chango acquisition for 5 p.m. ET today.
- Rubicon shares are up 1% after hours.