AdColony is shutting down its AdMarvel as it moves further into programmatic automated ad sales.
As reported by AdExchanger, the closure will affect around 125 jobs at the firm. This leaves AdColony with a headcount of around 400 staff.
The ad exchange portion of AdMarvel will remain open, and will eventually become part of AdColony's tech. All other legacy tech is also planned to be migrated onto the AdColony platform.
"Most publishers are no longer looking for ad serving and mediation help from us. Advertisers are now looking to buy programmatically, and more so than almost anything else, they are looking for direct supply," wrote AdColony CEO Will Kassoy in a blog post outlining the changes.
"This is a tough decision, but we feel like it is the right one for our company, and our remaining staff of over 400 people will be set up to focus on the areas where we see the most growth potential."
AdColony reportedly let go of around 100 of its staff in July 2017 as part of its move into programmatic ad sales. It was reported at the time that the company would also be moving away from banner ads and more into rewarded ads.