A Princeton-based advertising solutions company is being acquired by a joint venture of AT&T, a DISH Network Corporation subsidiary and WPP, the companies announced Monday.INVIDI Technologies Corporation, which provides addressable advertising platforms, will continue to operate independently under the trio’s ownership, with AT&T holding the controlling interest in the venture, according to a news release.
“This is an exciting day for INVIDI, our customers, industry partners, employees and investors,” INVIDI CEO Dave Downey said in a prepared statement. “Maintaining our independence and deepening our existing relationships with AT&T, DISH and WPP is a big move for our company and our people. Our ability to increase the value of ad inventory is transforming the way video advertising is purchased and distributed.”
The transaction is expected to close in the first quarter of 2017, subject to customary reviews and approvals.
The three buyers said they plan to maintain INVIDI’s current operations and employees in Princeton, as well as Newtown, Pennsylvania, New York, Denver and Edmonton, Alberta.
Financial terms of the deal were not disclosed.