TLRA - Here's Why Telaria and Rubicon Project Soared on Thursday
Global-advertising exchange Rubicon Project (NYSE: RUBI) and digital-advertising specialist Telaria (NYSE: TLRA) announced on Thursday that they had reached a definitive agreement to band together, forming the world's largest independent sell-side advertising platform. The combined company will possess the "scale, capabilities, and solutions unmatched by the competition," according to the press release.
The combined company will provide programmatic advertising buyers and sellers with a single platform and access to every format and channel -- including the substantial growth resulting from the rapid adoption of connected TVs.
Investors hailed the deal, driving Telaria stock up more than 11% for the day, while Rubicon Project shares jumped nearly 7%.