Today, Time Inc. made an announcement that it has acquired ad tech firm Viant, owner of Myspace. This deal, according to Viant’s top executives, creates a quality ad environment that rivals Facebook’s and Google’s.

The Irvine, California-based Viant, which changed its name from Interactive Media Holdings a year ago, owns the social network Myspace and claims it has access to 1.2 billion identified and registered users.

It also has the Specific Media ad network and agency, the Vindico video ad management platform, the smart TV system Xumo, and, launched a year ago, an Advertising Cloud with an Identity Management Platform.

Time Inc. has more than 90 brands, including its namesake magazine, Sports Illustrated, Fortune, People and Entertainment Weekly.

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