Benzinga | Dec 21, 2021 10:04AM EST

AT&T Agrees To Sell Advertising Marketplace Xandr To Microsoft

AT&T Inc (NYSE:T) agreed to sell its global programmatic advertising marketplace, Xandr Inc., to Microsoft Corp (NASDAQ:MSFT). The financial terms of the transaction remain undisclosed.

* The agreement builds on a decade-long relationship between Xandr, including its predecessor companies, and Microsoft for delivering global digital media solutions for advertisers.

* Related Content: AT&T Engages In Talks To Divest Xandr Division To InMobi: Bloomberg

* Xandr's technology strategically complements Microsoft's current advertising offerings and will help accelerate the delivery of digital advertising and retail media solutions for the open web.

* "Microsoft's shared vision of empowering a free and open web and championing an open industry alternative via a global advertising marketplace makes it a great fit for Xandr. We look forward to using our innovative platform to help accelerate Microsoft's digital advertising and retail media capabilities," said Xandr's EVP and GM Mike Welch.

* Price Action: T shares traded higher by 1.34% at $24.52 in the market session on the last check Tuesday.