FRANKFURT, July 31 European broadcaster RTL Group said on Thursday it had agreed to buy a 65-percent stake in U.S. digital video advertising group SpotXchange for $144 million.
Founded in 2007, SpotXchange was the first online advertising marketplace with an exclusive focus on video and now has more than 1 billion auctions of advertising space each day, RTL said in a statement.
RTL, which is controlled by German media conglomerate Bertelsmann, also agreed on an earn-out component depending on future performance of SpotXchange.
The deal is expected to close at the end of August. (Reporting by Harro ten Wolde; Editing by Jonathan Gould)