EFE.- The telecommunications company AT&T reached an agreement to sell Microsoft its platform to buy and sell Xandr digital advertising, it said in a statement in which it did not offer details about the amount of the transaction.

According to AT&T, the deal builds on a decade-long relationship between Xandr, formerly AppNexus, including its predecessor companies, and Microsoft to deliver global digital media solutions for advertisers.

“Microsoft‘s shared vision of empowering a free and open web and championing an open industry alternative through a global advertising market makes it ideal for Xandr,” Xandr executive vice president and general manager Mike Welch said in the statement.

“We look forward to using our innovative platform to help accelerate Microsoft’s digital advertising and retail media capabilities,” he said.

For his part, Mikhail Parakhin, president of web experiences at Microsoft, stressed that “with the talent and technology of Xandr” that company can accelerate the delivery of its digital advertising and retail media solutions.

The transaction is subject to customary closing conditions, including regulatory reviews, the statement further indicates.

AT&T acquired the ad technology company in 2018 for about $ 1.6 billion with the aim of challenging companies like Alphabet Inc., parent of Google, and Facebook of Meta Platforms Inc., in the digital ad market, highlights the Wall Street Journal.

It also highlights that Microsoft’s search advertising business had revenues of $ 8.5 billion in the year ended June 30, 2021, which represented approximately 5% of the technology giant’s revenue.

The company makes money selling ads on various services, including its search engine Bing, the business-focused social media platform LinkedIn, and its video game platform.