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NEW YORK - Nexxen International Ltd. (NASDAQ:NEXN), a technology company with impressive financial health metrics according to InvestingPro data, has renewed and expanded its strategic partnership with VIDAA, a Connected TV (CTV) platform used by Hisense, Toshiba and other TV manufacturers, the companies announced Monday. The company maintains a perfect Piotroski Score of 9, indicating strong operational efficiency.
The updated agreement extends Nexxen’s exclusive global access to VIDAA’s automatic content recognition (ACR) data and grants exclusive rights to monetize CTV and native display advertising on VIDAA media in North America through at least the end of 2029.
Nexxen is investing an additional $35 million in VIDAA, bringing its total investment to $60 million, representing approximately 6% of VIDAA’s outstanding shares. The funds will primarily support retail partnerships and expand VIDAA’s presence in North America.
"VIDAA’s rapidly expanding distribution makes this an exciting time to deepen our relationship and begin to realize the long-term value of what we have built together," said Ofer Druker, Chief Executive Officer of Nexxen.
The partnership, initially launched in 2022, has established VIDAA in key international markets including Europe and Australia. The companies will now focus on scaling North American TV distribution, increasing monetization within VIDAA, and growing the availability of ACR data for audience targeting and measurement partnerships.
Guy Edri, Chief Executive Officer of VIDAA, said the agreement "marks a significant step forward in our shared success" and supports the company’s next phase of growth in North America.
VIDAA currently powers more than 40 million connected devices worldwide, according to the press release statement. Benefits related to the updated agreement are expected to take effect starting in 2026.
Nexxen, an advertising technology platform specializing in data and advanced TV, is headquartered in Israel with offices throughout the United States, Canada, Europe and Asia-Pacific.
In other recent news, Nexxen International Ltd. has announced the completion of a share repurchase program, buying back 1,260,000 Ordinary Shares at an average price of $11.30 per share. The company disclosed that it has $24.8 million remaining for future repurchases under its current program authorization. In addition, Nexxen has revised its revolving credit facility, reducing the amount from $90 million to $50 million and extending the maturity date to September 2027, reflecting its strong cash position. The company is also set to join the Russell 3000 Index, with final inclusion expected after the U.S. market opens on June 30, 2025. Nexxen anticipates benefits from a strategic partnership between VIDAA and Vestel, as VIDAA will serve as the operating system for Vestel’s global TV manufacturing base. This partnership is expected to expand VIDAA’s reach in Europe. Additionally, Nexxen has added two senior executives to its commercial leadership team, with Irina Katsnelson joining as Senior Vice President of Enterprise Sales. These developments highlight Nexxen’s ongoing strategic initiatives and growth in the advertising technology sector.
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