Online advertising marketplace Rubicon Project announced Tuesday that it had acquired nToggle Inc. for $38.5 million.

The Boston company develops software to help ad buyers manage multiple ad exchange and data exchange accounts through one interface.

Rubicon Project of Playa Vista aims to use the software to make it easier for ad buyers to participate in header bidding, a process through which advertising exchanges compete all at once to buy ad space on a website.

“Integrating nToggle’s technology into Rubicon Project’s platform enables buyers to find the signal in the noise so they can bid more confidently, win more auctions, and spend more with our publisher and app clients,” Michael Barrett, president and chief executive of Rubicon Project, said in a statement. “This acquisition underscores our commitment to strengthen the Rubicon Project exchange with tools and services that make it easy for buyers and sellers to transact.”

Rubicon Project laid off 125 workers, or 19 percent of its workforce, in November, and the company’s chief executive, Frank Addante, stepped down in March after reporting slower than anticipated revenue growth. That was partly due the firm being slow to implement technologies to facilitate header bidding.

Technology reporter Garrett Reim can be reached at [email protected]. Follow him on Twitter @garrettreim for the latest in L.A. tech news.