Rubicon Project Buys Chango For $122M

Los Angeles-based advertising technology provider Rubicon Project said late Tuesday that it is buying Chango, a Canadian provider of Internet marketing software. Rubicon Project said it will pay approximately $122M for Chango, primarily in stock. Chango's software includes keyword, contextual targeting and retargeting offerings. Rubicon Project said it will integrate Chango's technology into its Rubicon Project marketplace. Chango was venture backed by Extreme Ventures, iNovia Capital, Metamorphic Ventures, and RHO Canada Ventures.