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Time Inc. unit buys ad platform

Time Inc.-owned people-based advertising technology unit Viant Technology LLC agreed to acquire Adelphic, which operates a mobile-first, cross-channel programmatic advertising platform.

Together, the companies will be able to reach more than 1 billion consumers globally with a demand-side ad platform, according to a Jan. 23 news release. The deal is expected to close during the first quarter. Further details of the transaction were not disclosed.