Comcast ad platforms supplier FreeWheel is acquiring programmatic software as a service (SaaS) buying platform Beeswax.
The acquisition, set to close in January, will expand FreeWheel’s programmatic capabilities across all forms of television and video, including connected TV and set-top box video-on-demand.
New York City-based Beeswax, founded in 2014 by former Google executives, offers a customizable, Bidder-as-a-Service bidding stack used by clients including Uber, DraftKings and Nexstar.
The bidding technology will complement FreeWheel’s existing capabilities, allowing demand- and supply-side users to access broader pools of inventory for complex campaigns, and address increased demand for customizable and flexible bidding technologies, according to the companies.
"It should not be news to anyone in the advertising world that connected TV is the fastest-growing area of programmatic," Beeswax CEO and founder Ari Paparo said in a blog post about the company's decision to be acquired by FreeWheel. "We've seen that as well at Beeswax, with more and more customers focusing on bringing together the sight, sound, and motion of television with the power of programmatic advertising technologies."
“As the ecosystem becomes increasingly complex, sellers and buyers of media want similar capabilities: great automation, simplicity, and the ability to manage data-driven campaigns across hundreds of endpoints,” stated FreeWheel General Manager Dave Clark. “The team at Beeswax has a well-earned reputation for innovation and technological leadership.”