Roku to buy video ad platform Dataxu

Roku has agreed to buy Dataxu, a platform that enables marketers plan and buy video ad campaigns, for $150 million in cash and stock.

Boston-based Dataxu, a demand-side platform, provides marketers with automated bidding and self-serve software to manage ad campaigns programmatically across digital platforms.

Roku said buying Dataxu’s platform will complement its existing ad platform. Marketers will have a software solution that lets them plan, buy and optimize ad spend across TV and over-the-top providers.

The company also said Dataxu’s team includes “strong talent” in software engineering, data science and analytics. Dataxu’s co-founder and CEO is Mike Baker. Dataxu has raised $87.5 million in funding.

“TV advertising is shifting toward OTT and a data-driven model focused on business outcomes for brands,” Roku CEO Anthony Wood said in a statement. “The acquisition of Dataxu will accelerate our ad platform while also helping our content partners monetize their inventory even more effectively.”