Stagwell acquires publisher ad tech company Freestar

• It will give Freestar customers better access to Stagwell's suite of marketing tools and its broader suite of advertising clients.

Zoom in: As part of the deal, Freestar will be integrated into Stagwell Media's ecosystem, the companies said, making it easier for Stagwell to monetize its media assets.

• The deal also bolsters Stagwell's Future of News initiative, which aims to support publishers by encouraging advertisers to invest in premium news content.
• Freestar works with hundreds of publishers and digital brands, including Boston Globe Media, Fortune Media, Legacy and Enthusiast Gaming.

What they're saying: In a statement, Freestar CEO Kurt Donnell said joining Stagwell allows the 11-year-old company to offer its publisher clients "new capabilities, while staying true to the publisher-first approach that has always been our north star."

• Stagwell Owned Media CEO Ben Berentson said the deal will help Stagwell further its commitment to supporting publishers. "Publishers are essential to a healthy media ecosystem, and we believe their long-term success is critical to the future of our industry," he said.