Stagwell announces Freestar acquisition to expand publisher advertising

Stagwell ($STGW) announced the acquisition of Freestar, a company that helps digital publishers manage advertising inventory and generate revenue. Freestar works with media businesses including Boston Globe Media, Fortune Media and Legacy, using its pubOS software, a marketplace of partner services and operational support. The business will become part of Stagwell’s Owned Media offering within its Media and Commerce segment.

The combination is intended to connect publishers more directly with advertisers and improve how advertising opportunities are matched with audiences. It also gives Stagwell additional technology and relationships on the publisher side of the advertising market. The announcement did not disclose the purchase price, Freestar’s revenue or any quantified earnings contribution. Integration benefits therefore remain management expectations, and the available information does not establish the transaction’s financial return.

Sources:

• accessnewswire.com
• Issuer release via StockTitan