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Supply-side platform Magnite has bought ad serving company SpringServe for $31 million as part of its continued push into connected TV advertising.
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SpotX invested $2 million in SpringServe in July 2020. Then in February of this year, Magnite announced it would buy SpotX for $1.17 billion, leaving the future of the ad serving company a bit unclear.
At the time, Magnite CEO Michael Barrett told Adweek that his company would figure out what to do with SpringServe after the deal closed, but that he’s “always admired” the SpringServe team and thought SpotX’s investment in the company was smart.
