Adtech outfit Beeswax has announced the purchase of the assets of the RTBkit open source bidder, with the acquirer maintaining that its new asset will continue to be supported by the open source community.
The transaction was made for an undisclosed sum, with the newly acquired assets not expected to be integrated into the Beeswax offering, rather it will be maintained by the community and is still available under the Apache license on Github, according to the company.
Beeswax key offering to the market is a “bidder-as-a-service” which was developed to enable media buyers to deploy a custom real-time bidding (RTB) strategy with reduced cost and complexity, with the company maintaining that the purchase will enable it to “support a community of forward-thinking engineers, data scientists and sophisticated advertisers.”
A blog post announcing the move read: “We have been fans of RTBKit since it was originally developed by Datacratic and the thinking behind the project influenced much of the product development at Beeswax. In fact, in the first business plan we developed and pitched to investors we described what we were doing as ‘Hosted and Managed RTBKit’.”
The announcement comes months after Beeswax announced the launch of the Programmatic Cloud, an integrated adtech offering that will see it offer services with a number of other adtech companies, including: Metamarkets; RTK.io; Cognitiv, and Spongecell.
Commenting on the four-way tie-up, Ari Paparo, the influential chief executive of Beeswax, said: “We’re offering the programmatic ecosystem the opportunity to continually adapt and innovate with the market while still reaping the benefits of a consolidated SaaS-based platform.”