Rubicon Project completes acquisition of VC-backed Chango
Rubicon Project, a global technology company leading the automation of advertising, announced the completion of the acquisition of Chango Inc., a Canadian provider of intent marketing technology.
The previously announced acquisition enables Rubicon Project to expand its premium advertising marketplace to include intent marketing capabilities, providing access to data-driven targeting and retargeting budgets.
The aggregate consideration was approximated in March 2015 to be approximately USD$122 million, including contingent consideration, primarily in stock.
The combined capabilities will further accelerate the growth of automation within the overall advertising ecosystem enabling Rubicon Project’s premium customer base to access an additional $35 billion of intent marketing spend.
Chango has received backing from Canadian venture capitalists since its founding in 2008 including iNovia Capital, Rho Canada Ventures, Mantella Venture Partners and Extreme Venture Partners.