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AT&T to acquire ad tech firm AppNexus

Photo by Roberto Machado Noa/LightRocket/Getty Images

AT&T has announced it will acquire AppNexus, one of the largest privately-owned ad exchanges. Terms of the deal were not disclosed, but The Wall Street Journal reports that the price tag is around $1.6 billion.

Why it matters: The acquisition will help AT&T build its automated digital advertising business that could compete with Google and Facebook’s massive duopoly.