Magnite Strengthens Audience Data Capabilities With Addition of Nth Party Team

Rhea-AI Summary

Magnite (NASDAQ: MGNI) announced the acquisition of the team from Nth Party, a startup focused on cryptographic software for secure audience data sharing. This strategic move enhances Magnite's commitment to developing advanced identity and audience solutions for advertisers. The acquisition involves a team of 7 employees, including 5 engineers, who will work under VP of Engineering Robert Lyons. Magnite's Chief Product Officer, Adam Soroca, emphasized the importance of first-party audience data in advertising, which the Nth Party team will help accelerate.

Positive

• Acquisition of Nth Party strengthens Magnite's data capabilities.
• Enhances focus on secure audience data solutions in advertising.
• Increases the company's engineering talent pool with experienced professionals.

Negative

• None.

Seasoned Data Engineers Join Leading Independent SSP

NEW YORK, Jan. 05, 2022 (GLOBE NEWSWIRE) -- Magnite (NASDAQ: MGNI), the world’s largest independent omnichannel sell-side advertising platform, today announced it is bringing on the team from Nth Party, a startup developing cryptographic software for secure audience data sharing and analysis. The move reinforces Magnite’s ongoing commitment to build leading identity and audience solutions for sellers and buyers. Under the terms of the deal, Nth Party’s team of 7 employees, including 5 engineers, will report to Magnite’s Vice President of Engineering Robert Lyons. Financial terms were not disclosed.

“First-party audience data is becoming increasingly important to the future of advertising. The seasoned Nth Party team will accelerate our existing data activation efforts immensely,” said Adam Soroca, Chief Product Officer at Magnite. “Our teams share the same principles around data compliance and safety, and Nth Party’s approach to handling audience data in a secure and privacy-centric way will continue at Magnite.”

“We are excited to join Magnite to scale our efforts within a global company,” said Shereen Shermak, CEO at Nth Party. “By combining our specialized strength in leveraging secure multi-party computation to enhance data privacy with Magnite’s talented team of experts and their first-rate clients, we’ll be able to bring effective audience data solutions to an even larger market.”

About Magnite
We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising platform. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world's leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.

Forward-Looking Statements
This press release contains forward-looking statements, including statements concerning the acquisition of Nth Pty Ltd and/or the anticipated benefits thereof. Forward-looking statements are based on assumptions and estimates, and are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from expectations or results projected or implied by forward-looking statements, including factors identified under the caption "Risk Factors” in filings we have made and will make from time to time with the Securities and Exchange Commission, or SEC, including our Annual Report on Form 10-K for the year ended December 31, 2020 and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements are not guarantees of future performance or events and investors are cautioned not to place undue reliance on any forward-looking statement. Furthermore, forward-looking statements speak only as of the date on which they are made, and, except as required by law, the company disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

Media Relations
Charlstie Veith
516-300-3569
cveith@magnite.com

Investor Relations
Nick Kormeluk
949-500-0003
nkormeluk@magnite.com

FAQ

What did Magnite announce on January 5, 2022?

Magnite announced the acquisition of the Nth Party team to enhance its audience data solutions.

How many employees from Nth Party joined Magnite?

A team of 7 employees, including 5 engineers, joined Magnite.

What is the significance of first-party audience data for Magnite?

First-party audience data is crucial for the future of advertising, and Nth Party's expertise will accelerate Magnite's data activation efforts.

Who will the Nth Party team report to at Magnite?

The Nth Party team will report to Magnite's Vice President of Engineering, Robert Lyons.

What does the acquisition of Nth Party indicate about Magnite's strategy?

It indicates Magnite's ongoing commitment to building leading identity and audience solutions for advertisers.