The deal is expected to close in the second quarter of this year. The company said it will be the largest independent CTV and video ad platform once the deal closes. The company does serve clients on other formats, including display, mobile and audio.
CTV is a smaller piece of Magnite's overall business, but a big growth opportunity. Connected TV has been a white-hot sector in the pandemic, which dramatically accelerated what industry experts thought would be a multi-year transition to CTV. The more people home and streaming ad-supported movies and shows, the more opportunities there are for ad tech partners to show them ads on platforms.that its total CTV revenue grew over 50% year over year in its third quarter of 2020.
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CONGRATS LONG $MGNI