Read previewSwedish telecommunications-equipment company Ericsson plans to shut down Emodo, the advertising business it launched in 2017, multiple people familiar with the matter told Business Insider.
"Emodo was created in a strategic play for Ericsson to provide our telco customers with monetization opportunities through digital advertising," an Ericsson spokesperson said in a statement.
Emodo had only this year brought on a new team to help it build AI-powered ad solutions for connected TV.
The closure of Emodo marks the latest in a long line of telco-adtech collaborations that have bitten the dust.
The Singaporean telecoms company Singtel divested its Amobee adtech division to the adtech company Tremor International, now known as Nexxen, in 2022.
Persons:
—, Emodo, Andrew Rutledge —, DoubleClick, Matt Prohaska, Prohaska
Organizations:
Service, Ericsson, Business, CTV, Samsung, Verizon, Yahoo, AOL, Microsoft, Singtel, Prohaska Consulting
Locations:
Xandr