WPP programmatic media unit Xaxis has agreed to acquire Triad Retail Media, a supply-side platform (SSP) for retail commerce sites that want to sell ad inventory to brands.
Terms of the deal were not disclosed, but Xaxis is acquiring TRM from private equity firms Rockbridge Growth Equity and Falcon Investment Advisors. Citing unnamed sources, The Wall Street Journal reported that Xaxis is paying $300 million for TRM, and that Xaxis told the paper it is the largest deal it has ever done.
Xaxis said the deal will establish it as a “significant player” in retail media and e-commerce and will provide TRM with proprietary Xaxis technology and expertise that will help it grow.The deal is subject to regulatory approval, but following its closing, TRM will continue to operate as a stand-alone brand under its own leadership team. Xaxis said TRM has an organization of 700 people operating in 14 markets worldwide, servicing retailers such as Walmart, eBay, Asda, Toys "R" Us, CVS, Sam’s Club, Staples and Kohl’s.