Magnite signs US$1.17 bn deal to buy SpotX

February 8, 2021 10:01

Sell-side advertising platform Magnite has today entered into a definitive agreement to acquire SpotX from RTL Group for US$1.17 billion in cash and stock. SpotX is one of the leading platforms for CTV and video advertising globally.

Magnite plans to finance the transaction with cash on hand, 14 million shares issued to RTL Group and committed financing from Goldman Sachs.

Together, Magnite and SpotX will become the largest independent CTV and video advertising platform in the programmatic marketplace. The combined company will add competition to the CTV advertising market according to the announcement.

Be a member to keep reading

Join Mumbrella Pro to access the Mumbrella archive and read our premium analysis of everything under the media and marketing umbrella.

Become a member

Olivia Kruimel

Olivia Kruimel was the managing editor at Mumbrella. She has more than 15 years of experience in journalism, communications and marketing. Her journalism career began at Fairfax Media (now part of Nine) and includes various B2B publications such as B&T, Travel Today and ALB. As a marketer Olivia has worked for Standard Chartered and various global law firms.