Magnite to Buy RTL’s Adtech Group SpotX for $1.17 Billion (1)

Magnite Inc. has agreed to buy SpotX, a U.S.-based advertising sales technology company owned by RTL Group SA, in a deal valued at about $1.17 billion.

RTL will get $560 million in cash and 14 million Magnite shares for the business, which helps advertisers manage their campaigns across different platforms, the Luxembourg-based company said in a statement on Friday. The companies expect the deal to close in the second quarter.

The deal will be Magnite’s biggest, according to data compiled by Bloomberg, about three times the size of its last transaction in 2019. The company, which bills itself as ...