AT&T Inc., Dish Network Corp. and WPP PLC are teaming up to buy Invidi Technologies Corp., which focuses on targeted television advertisements, the companies said Monday.
Under the terms of the deal, which is expected to close in the first quarter, AT&T is to hold a controlling stake and Invidi would continue to operate independently. Financial terms weren't disclosed.
Founded in 2000, Princeton, N.J.-based Invidi's technology allows advertisers to target ads to specific audiences, for example displaying car ads to someone who's been searching for car deals or a custom list provided by an advertiser.
Investors include WPP, Google Inc. and Verizon Communications Inc.
The move extends AT&T's push into media. The telecom giant bought satellite operator and Dish Network competitor DirecTV in 2015 and recently struck a deal to purchase content producer Time Warner Inc.
Write to Maria Armental at Maria.Armental@wsj.com
(END) Dow Jones Newswires
November 21, 2016 17:45 ET (22:45 GMT)
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