Magnite announces acquisition of streamr.ai

Magnite (MGNI) announced the acquisition of streamr.ai, a platform specializing in AI tools that make Connected Television, CTV, advertising accessible to Small and Medium-sized Businesses, SMBs. Magnite will offer streamr.ai’s technology to its ecosystem partners working with SMBs, including agencies, retail media networks, publishers operating buyer marketplaces, and DSPs. The financial terms of the transaction were not disclosed. “The CTV advertising opportunity for small businesses is enormous, but it’s been bottlenecked by complexity and high costs,” said Michael Barrett, CEO of Magnite. “streamr.ai’s technology uses AI to accelerate this transition for SMBs, making tasks like CTV creative generation and campaign setup much easier. By offering these tools to our ecosystem partners with SMB clients, we aim to unlock a significant revenue opportunity for our CTV publishers. We’re thrilled to have the streamr.ai team join us, and we’ll continue to grow our AI expertise and capabilities across all Magnite products.”