Video ad serving platform SpotX has announced that majority owner RTL Group is to acquire all remaining shares in the firm, bringing its total ownership to 100 per cent.

The investment is part of the RTL Groups continued commitment to its ad tech strategy, and also serves as recognition of SpotXs impressive growth and progress towards its strategic objectives. Since RTL Group first made an investment in the company in 2014, SpotX has nearly doubled net revenues, almost quadrupled EBITDA, opened offices in seven countries and added over 150 new employees.

The purchase of the remaining shares by RTL Group is taking place as part of the option they negotiated in connection with its initial investment, and is based on an enterprise value of SpotX of $404m (£312m) on a 100 per cent basis plus net cash.

“We are excited to take full ownership of SpotX, a leading global platform for ad serrving and programmatic ad sales,” said Bert Habets and Guillaume de Posch, co-CEOs of RTL Group in a joint statement. “Back in 2014, the majority stake in SpotX was our first big step into advertising technology; gaining full ownership now is another major step in transforming RTL Group into a total video powerhouse.

“Together with the very experienced management teams of SpotX and our European asset Smartclip, we are working on an ambitious growth plan for our ad tech businesses, including further acquisitions, partnerships and deeper synergies across RTL Group. Our joint vision is to build the leading global video monetisation offering for broadcasters and premium inventory owners to maximise the value of their audiences consuming total video content across multiple devices.”

SpotXs management team, led by company co-founders Mike Shehan, CEO, and Steve Swoboda, chief operating and financial officer, will stay on to continue to execute the companys vision. Along with the step-up investment from RTL, SpotX will begin to work closer with sister company Smartclip, with the two firms working together to achieve aggressive growth and collaborating to provide an advanced advertising solution that can reach consumers on every screen.

“SpotX is emerging as the premier expert in digital monetisation of over-the-top content delivery, and uniquely positioned to assist broadcasters and other modern TV players with maximising their profitability in the new delivery ecosystem. RTL Groups investment will help extend our footprint in TV as we bring together the TV and digital video worlds.”