Friday, August 1, 2014
SpotXchange Acquired By European Entertainment Firm For $144M
Denver-based online video advertising marketplace operator SpotXchange has been acquired by a European entertainment firm, RTL Group, in a deal worth $144M plus earnout. According to RTL Group, it is acquiring a 65 percent majority stake in SpotXchange, and will also offer up earnout based on the future performance of the company. RTL Group said the move would help it to become a leading player in online video and online vieo advertising. SpotXchange was founded by Michael Shehan and Steve Swoboda, who will continue to lead the company. SpotXchange was advised by RBC Capital Markets in the deal.