Back in March, we reported on the possibility that Disney was looking to sell the advertising-technology company, TrueX. Now it is official that Disney has offloaded TrueX. Gimbal, a location-based ad, and technology company has acquired TrueX with the hopes of gaining a larger footprint in the advanced TV advertising arena.
According to The Wall Street Journal, Gimbal paid less than $100 million for TrueX. TrueX is best known for offering technology that allows users to interact with an ad before consuming a piece of content in exchange for fewer or no commercials during content plays. Gimbal looks to utilize this model and expand on it especially considering TrueX has a good relationship with TV app owners and that Addressable-TV ad spending is expected to exceed $3.6 billion in 2022, according to research firm eMarketer.
Disney was looking to offload TrueX even before the COVID-19 pandemic. Disney considered TrueX as a non-core business. 21st Century Fox bought TrueX for close to $200 million back in 2014.
Another asset from Disney’s $71.3 billion deal with 21st Century Fox goes away. At least this time they got some cash in return.
Zach Perilstein is the Editor-in-Chief of the Boardwalk Times
