RTL Group signed an agreement to acquire the video technology company Yospace.
Yospace offers targeted advertising insertion on streaming services. RTL Group will pay up to U.S. $33 million before cash and debt adjustments. Yospace CEO Tim Sewell and chief technology officer David Springall will continue to lead the company’s operations. As part of the transaction, RTL Group will appoint three members to the Board of Yospace.
Bert Habets, RTL Group CEO, commented, “The acquisition of Yospace is an important step in building out our Total Video portfolio and will help drive two strategic goals at the same time. First, we gain a competitive, fully integrated and profitable solution which is key to further grow our ad-tech business. Our goal is to continue expanding SpotX into a leading, independent monetization platform for broadcasters, video on demand services and publishers.”