Independent SSP (Sell-side Platform) Magnite has acquired connected TV (CTV) ad-serving platform SpringServe for $31m (£22.5m). The price is net of a prior $2m investment, pursuant to a previously-negotiated option agreement that Magnite secured as part of its acquisition of SpotX in April. Last year, SpotX made a minority investment in SpringServe in conjunction with a strategic partnership agreement between the two companies.

Founded in 2015, 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 prioritized, SpringServe will continue to be demand-agnostic. Its technology manages multiple aspects of video advertising for CTV publishers, including inventory routing, customized ad experiences, and advanced podding logic. Its clients include OEMs such as Vizio and media owners such as Univision, Pluto TV, and Tastemade.

“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,” said Magnite President and CEO, Michael Barrett,. “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 customize their prioritization of direct-sold and programmatic demand. Additionally, our hybrid solution enables programmatic demand to compete with the publisher’s direct-sold demand and optimize yield automatically.”