Three months after the acquisition of Telaria by Rubicon Project, the company is renaming itself Magnite and claiming that it operates the largest independent omnichannel sell-side platform in the industry, including expertise in the fast-growing connected TV space. The new company will adopt the Nasdaq ticker symbol MGNI effective July 1.
Stopping short of calling it an acquisition, Rubicon Project and Telaria in a joint announcement on Thursday said the two companies will merge. “We saw this as an opportunity to bring complementary assets together,” said Mark Zagorski, president-COO of the combined, unnamed company. The merger is expected to close in the first half of 2020, at which time management will release the new company name.
