Tegna sells PointRoll unit
McLean-based media company Tegna Inc. has sold PointRoll, a multi-screen digital ad tech and services company, to Sizmek Inc., an Austin, Texas-based open-ad management company.
Sizmek reported that the acquisition price was $20 million, including $11 million in cash and $9 million in seller financing.
PointRoll, based in King of Prussia, Pa., was part of Tegna Digital’s Cofactor brand.
“This is a very strong combination of Sizmek’s technology and PointRoll’s [dynamic creative solutions] expertise, which can then be applied to the ever increasing need for global solutions,” Neil Nguyen, the CEO and president of Sizmek, said in a statement.
In addition to the sale of PointRoll, Cofactor has appointed Sizmek as its preferred activation and distribution partner for digital content that Cofactor onboards for its customers.