Online advertising firm Rubicon Project has acquired software as a service (SaaS) programmatic advertising company Chango Inc. for $122 million.

According to reports, Rubicon made the acquisition to build its premium ad marketplace through Chango’s intent marketing technology.

Founded in 2008, Chango uses exclusive intent data and technology to create relevant and timely advertising campaigns that produce rich customer insights, and offers a variety of fully managed and self-serve solutions to agencies and brands.

In a statement, Rubicon said that the Chango acquisition will enable it to expand its premium advertising marketplace with intent marketing technology that includes access to keyword, contextual targeting and retargeting budgets. The acquisition will also bring access to an additional $35 Billion of intent marketing spend to the Rubicon Project marketplace.

“The team at Chango has done an extraordinary job engineering and deploying their intent marketing technology; they have built terrific products and a stellar team,” Rubicon CEO & Founder Frank Addante said. “Chango’s technology brings keyword, contextual targeting and retargeting to premium display, mobile and video advertising. This will enable us to bring intent marketing budgets to an independent, open marketplace that serves premium buyers and sellers at scale for the first time. Our combined capabilities will help to grow and innovate, while also fueling a rapid acceleration of Rubicon Project’s overall Buyer Cloud business, advancing our technology roadmap and team build out by more than one year.”

Based in Toronto, Ontario, Chango had raised $18.6 million over four rounds prior to the acquisition. Investors included Extreme Venture Partners, Geoff Judge, Rho Canada, iNovia Capital and Metamorphic Ventures