US ad-tech company Magnite has agreed to buy SpotX from RTL in a deal worth $1.17 billion.
The purchase price consists of $560 million (€468 million) in cash and 14.0 million shares of Magnite stock.
RTL Group acquired a 65 per cent majority shareholding in SpotX for €107 million in 2014, and took full ownership of SpotX in 2017, acquiring the remaining shareholding for €123 million.
“The sale of SpotX is fully in line with our strategy to concentrate on growing our European digital businesses in streaming, advertising technology, digital video and audio as well as our global content business, Fremantle,” explained Thomas Rabe, CEO, RTL Group, who said the business had significant potential.
RTL is maintaining is two European ad-tech companies Smartclip and Yospace and is continuing to build a European ad-tech platform addressable TV advertising.
The UK-based video technology company Yospace, acquired in 2019 by RTL Group, has developed one of the most advanced technologies for Server-Side Dynamic Ad Insertion (SSDAI) which allows the replacement of existing commercials from a broadcast stream with more targeted, personalised advertising.
The transaction is subject to regulatory approval.