Magnite closes US$1.14 bn SpotX acquisition
May 3, 2021 10:48
Global sell-side advertising platform Magnite has closed its acquisition of SpotX from RTL Group for US$1.14 billion.
The announcement:
Magnite (Nasdaq: MGNI) today closed its previously-announced acquisition of SpotX from RTL Group, creating the largest independent CTV and video advertising platform, and reinforcing the company’s capabilities as linear TV budgets increasingly shift to digital.
Buyers and sellers have long wanted a scaled, independent alternative to the giants that currently dominate the CTV marketplace. The combination of Magnite and SpotX makes this a reality, and better positions the company to help its clients grow their businesses across CTV and all other formats including video, display, and audio.