LONDON — Europe’s largest broadcasting network, RTL Group, has inked a deal to acquire a 65% stake in online video advertising trader SpotXchange for $144 million.
Denver, Colorado-based SpotXchange is one of the largest global marketplaces for digital video advertising, with more than 1 billion automated auctions per day, with ads delivered to 335 million people in more than 100 countries a month, it states.
Online video advertising is the fastest growing digital advertising segment, expected to grow globally at a compound annual growth rate of 24% between this year and 2018.
In addition to the initial payment of $144 million, RTL agreed on an earn-out component. It also has the opportunity to acquire the remaining shareholding in the future.