Advanced Television

Magnite acquires SpringServe

July 1, 2021

Sell-side advertising platform Magnite is acquiring SpringServe, an ad serving platform for connected TV (CTV). SpringServe’s technology manages multiple aspects of video advertising for CTV publishers such as inventory routing, customised ad experiences, and advanced podding logic. A tight technical integration between ad serving and programmatic capabilities reduces complexity, improves inventory management between multiple parties, enhances functionality, and can reduce costs.

The purchase price was approximately $31 million (net of a prior $2 million investment and subject to adjustments), pursuant to a previously negotiated option agreement that Magnite secured as part of its acquisition of SpotX in April 2021. In 2020, SpotX made a minority investment in SpringServe in conjunction with a strategic partnership agreement between the two companies.

“The addition of SpringServe will better position Magnite to meet the needs of leading CTV publishers, no matter where they are in the evolution of their sales channel strategy,” stated Michael Barrett, President and CEO at Magnite. “If CTV publishers want to be fully programmatic, they can leverage our CTV SSP, and if they’re in the early stages of programmatic, the SpringServe ad server will allow them to go at their own pace and customise their prioritisation of direct-sold and programmatic demand. Additionally, our hybrid solution enables programmatic demand to compete with the publisher’s direct-sold demand and optimise yield automatically.”

Founded in 2015 and headquartered in New York, SpringServe was created with the goal of providing a suite of ad serving tools that make digital advertising more efficient. To ensure publishers’ holistic yield management is prioritised, SpringServe will continue to be demand-agnostic. Select SpringServe clients include: OEMs such as Vizio and media owners such as Univision, Pluto TV, and Tastemade. SpringServe CEO Joseph Hirsch will report to Magnite’s CRO for CTV, Sean Buckley.

“We’re excited to be joining Magnite and building upon their existing CTV capabilities to better help publishers manage and monetise their advertising while accounting for all the specificities that are unique to this medium,” said Hirsch, now General Manager, SpringServe for Magnite. “We look forward to collaborating with the Magnite team and their clients on product development and new features that will ultimately move the CTV advertising industry forward.”

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