The agreement builds on a decade-long relationship between Xandr and Microsoft of delivering global digital media solutions for advertisers.

Xandr’s technology is said to strategically complement Microsoft’s current advertising offerings and will help accelerate delivery of digital advertising and retail media solutions for the web by combining Microsoft’s audience intelligence, technology and global advertising customer base with Xandr’s scaled, data-driven platform.

“Microsoft’s shared vision of empowering a free and open web and championing an open industry alternative via a global advertising marketplace makes it a great fit for Xandr. We look forward to using our innovative platform to help accelerate Microsoft’s digital advertising and retail media capabilities,” said Xandr’s executive vice-president and general manager Mike Welch.

Mikhail Parakhin, president of web experiences at Microsoft, added: “With Xandr’s talent and technology, Microsoft can accelerate the delivery of its digital advertising and retail media solutions, shaping tomorrow’s digital ad marketplace into one that respects consumer privacy preferences, understands publishers’ relationships with consumers and helps advertisers meet their goals.”

The transaction is subject to customary closing conditions, including regulatory reviews.