RTL Group sells SpotX ad-tech unit

RTL Group is selling its US ad-tech business SpotX to Los Angeles-based sell-side advertising platform Magnite. The transaction is subject to receipt of regulatory approvals and is expected to close in Q2.

The purchase price consists of €468 million in cash and 14.0 million shares of Magnite stock. The agreement implies an enterprise value (100 per cent) for SpotX of €977 million, based on the closing price of Magnite stock as of February 4th 2021.

Source: RTL Group sells SpotX ad-tech unit