The Walt Disney Co. has sold its advertising technology firm TrueX to the marketing data company Gimbal.
Disney acquired TrueX last year as part of its $71 billion purchase of 21st Century Fox's entertainment assets. Fox had initially acquired the firm in 2014 for $200 million. Terms of the sale to Gimbal were not disclosed. TrueX specializes in interactive advertising, with a particular focus on the connected TV/over-the-top video space. Gimbal specializes in location-based data meant to help marketers and brands bridge the gap between the digital and physical worlds.
The sale continues an effort by Disney to sell what it sees as"non-core" assets that it acquired as part of its Fox acquisition. Disney initially sold off Fox's regional sports networks to Sinclair Broadcast Group in a $9.6 billion deal required by the U.S. government as a condition for approving the merger. It subsequently sold the FoxNext video game division in a nine-figure deal.
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »