Roku is buying ad tech company Dataxu in $150 million deal

Roku said it has entered into an agreement to buy Boston-based demand-side platform Dataxu.

Dataxu provides marketers with automated bidding and self-serve software to manage ad campaigns programmatically across digital platforms.is buying Dataxu, a platform that lets marketers plan and buy video ad campaigns, for $150 million in cash and stock. The deal was announced Tuesday morning. Boston-based Dataxu, a demand-side platform, provides marketers with automated bidding and self-serve software to manage ad campaigns programmatically across digital platforms.

"TV advertising is shifting toward OTT and a data-driven model focused on business outcomes for brands," Anthony Wood, Roku CEO, said in a statement. "The acquisition of Dataxu will accelerate our ad platform while also helping our content partners monetize their inventory even more effectively."Dataxu had hired investment bank GCA Advisors as it explored a potential sale. According to the report, Dataxu was initially seeking a valuation of around $300 million.

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