AT&T is acquiring AppNexus, an online ad exchange company, in a deal reported to be worth nearly $1.6 billion, according to Fortune.
Until the third quarter of 2018, when the deal is expected to close, the companies will operate independently. AppNexus will become part of AT&T's advertising and analytics operations and expand direct-to-consumer relationships to Asia, Australia, Europe and Latin America.
"Ad tech unites real-time analytics and technology with our premium TV and video content," said AT&T CEO Brian Lesser, according to Fortune. "So, we went out and found the strongest player in the space. The combination of AT&T advertising and analytics and AppNexus will help deliver a world-class advertising platform that provides brands and publishers a new and innovative way to reach consumers."