Magnite completed the acquisition of SpotX from RTL Group for $1.17bn.

Magnite, an independent sell-side advertising platform, completed the acquisition of SpotX, a video advertising platform, from RTL Group, a media company, for $1.17bn. “Scale and reaching the largest possible audience is the name of the game when attracting the demand our CTV and video clients need. Acquiring SpotX positions us to become the world’s largest, independent source of highly-coveted CTV and video inventory. Two-thirds of our revenue is now concentrated in the fastest-growing segments of the market, and as linear TV dollars move to CTV, the greatest opportunity is still ahead of us," Michael Barrett, Magnite President & CEO.