European broadcaster RTL Group is to acquire all remaining shares in SpotX, the video ad serving platform. The media group, which has interests in dozens of TV and radio stations in ten countries, will now own 100 per cent of the growing adtech business.
RTL first made an investment in SpotX in 2014, during which time SpotX has nearly doubled net revenues and opened seven offices in seven countries.
SpotX’s clients include broadcasters and publishers, as well as app developers, OTT providers and software providers.
“Back in 2014, the majority stake in SpotX was our first big step into advertising technology; gaining full ownership now is another major step in transforming RTL Group into a ‘total video’ powerhouse,” said Bert Habets and Guillaume de Posch, Co-CEOs of RTL Group.
“Together with the very experienced management teams of SpotX and of our European asset Smartclip, we are working on an ambitious growth plan for our ad tech businesses, including further acquisitions, partnerships and deeper synergies across RTL Group.
“Our joint vision is to build the leading global video monetisation offering for broadcasters and premium inventory owners to maximise the value of their audiences consuming total video content across multiple devices.”
SpotX’s management team, led by company co-founders Mike Shehan, CEO, and Steve Swoboda, COO/CFO, will stay on.
The acquisition is scheduled to close in October 2017.
