RTL Group to acquire SpotX
RTL Group has announced it will fully acquire the programmatic video advertising platform SpotX.
The Luxembourg-based group, which already held a majority stake in the company, said it had reached an agreement with the minority shareholders and would buy the remaining 36.4% shares for $145 million (€123 million).
The European broadcaster announced the transaction, which is expected to close in October 2017, on Wednesday.
The group has taken a "total video" strategy in recent years and has been investing in digital media and growing its digital video business, as it redefines what it considers to be TV.
"Together with the very experienced management teams of SpotX and Smartclip, we are working on an ambitious growth plan for our ad-tech businesses," Co-Chief Executive Officers of RTL Group Bert Habets and Guillaume de Posch said in a statement.
"This plan includes the close collaboration between SpotX and Smartclip, rolling out their solutions across our operations and scaling up the businesses with further acquisitions and partnerships," the statement added.
Earlier in August, the company led a $15 million, Series A funding round for Israeli immersive-content start-up Inception, while in April 2017 it invested a further $5 million in VideoAmp.
RTL Group also led investment funding rounds for Clypd (a platform for programmatic advertising sales on linear TV) and VideoAmp (a platform for cross-screen data optimisation), and has a content production arm, FremantleMedia, which has operations in 31 countries.
The company's revenues grew by 8.8% in the second quarter to €1.57 billion, which, according to a the company, was mainly driven by FremantleMedia’s drama series "American Gods", the strong performances of Mediengruppe RTL Deutschland and the company's digital businesses.
(Barbara Tasch, email@example.com, +352 49 93 732)