SpotX, the video ad serving platform, has announced that the RTL Group will acquire all remaining shares in the company to take complete ownership.
RTL Group made its first investment in 2014 and SpotX has nearly doubled net revenues, almost quadrupling EBITDA, opened seven offices in seven countries and added over 150 new employees.
With the full acquisition scheduled to close in October 2017, SpotX’s management team, led by company co-founders Mike Shehan, CEO, and Steve Swoboda, COO/CFO, will stay on to continue to execute the company’s vision.
Bert Habets and Guillaume de Posch, Co-CEOs of RTL Group issued a joint statement about the deal: “We are excited to take full ownership of SpotX as it 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.
“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.”
The benefits of a fully integrated video advertising infrastructure for publishers are enormous with synergies between arms in the programmatic ecosystem, execution of multiple buying styles from a single platform and technology efficiencies capable of driving incremental revenue growth for media companies.
It is an interesting move that is part of the new media landscape.