28
February 2024
Nexxen International
Ltd
("Nexxen" or
the "Company")
Nexxen Reaches Favorable
Settlement Agreement with Alphonso Inc. and LG Electronics, Inc.
and Enters into Multi-Year Strategic Partnership
Alphonso to adopt Nexxen's
data-driven tools, with Nexxen gaining access to LG Electronics'
premium streaming inventory
Nexxen International Ltd.
(AIM/NASDAQ: NEXN) ("Nexxen" or the "Company"), a global, unified
advertising technology platform with deep expertise in video and
Connected TV ("CTV"), today announced it has reached a settlement
agreement and launched a three-year strategic partnership with
Alphonso Inc. and LG Electronics, Inc. ("LGE").
The executed settlement
agreement includes a cash component
and a commercial strategic partnership that
resolves the disputes underlying the complaints, thus concluding
the parties' litigation.
Alphonso will grant Nexxen access to
monetize a portion of LG's premium CTV inventory and will also
leverage Nexxen's data-driven discovery and segmentation
tools.
"This agreement marks the start of a
strategic partnership between two global leaders in the CTV sphere.
Nexxen's access to LG's CTV media is a boon for advertisers looking
for engaged audiences, unique reach, and global scale across
millions of screens. In turn, Nexxen's platform and data-driven
tools augment LG's own advertising, unlocking unique insights to
drive more precise and actionable campaign strategies. I look
forward to building a solid strategic partnership between our
companies and am pleased to have put these legal issues behind us,"
said Ofer Druker, CEO of Nexxen International.
"We are happy to have resolved these
legal issues and to provide Nexxen access to some of our premium
owned and operated inventory on LG Channels," said Serge Matta,
President of Global Ad Sales at Alphonso. "We are pleased to focus
on cooperation over the coming years."
About Alphonso
Inc.
Alphonso is a global leader in
connected TV and cross-screen advertising, helping brands find
hard-to-get unduplicated reach at optimal frequency across the
fragmented streaming TV landscape. We bring together LG's years of
experience in delivering world-class smart TVs to consumers
worldwide with big TV audience data and Video AI designed to
connect brands with audiences across all screens.
About Nexxen
International
Nexxen International empowers
advertisers, agencies, publishers and broadcasters around the world
to utilize video and Connected TV in the ways that are most
meaningful to them. Comprised of a demand-side platform (DSP),
supply-side platform (SSP), ad server and data management platform
(DMP), Nexxen delivers a flexible and unified technology stack with
advanced and exclusive data at its core. Our robust capabilities
span discovery, planning, activation, measurement and optimization
- available individually or in combination - all designed to enable
our partners to reach their goals, no matter how far-reaching or
hyper niche they may be. For more information, visit
nexxen.com.
Nexxen is headquartered in Israel and
maintains offices throughout the United States, Canada, Europe, and
Asia-Pacific, and is traded on the London Stock Exchange (AIM:
NEXN) and NASDAQ (NEXN).
For
further information please contact:
Nexxen International Ltd.
Billy Eckert, Vice President of Investor Relations
ir@nexxen.com
Caroline Smith, Vice President of
Communications
csmith@nexxen.com
KCSA
(U.S. Investor Relations)
David Hanover, Investor Relations
nexxenir@kcsa.com
Vigo
Consulting (U.K. Financial PR & Investor
Relations)
Jeremy Garcia / Peter Jacob / Aisling Fitzgerald
Tel: +44 20 7390 0230 or nexxen@vigoconsulting.com
Cavendish Capital Markets Limited
Jonny Franklin-Adams / Charlie Beeson / George Dollemore (Corporate
Finance)
Tim Redfern / Harriet Ward (ECM)
Tel: +44 20 7220 0500
Forward Looking
Statements
This press release contains
forward-looking statements, including forward-looking statements
within the meaning of Section 27A of the United States Securities
Act of 1933, as amended, and Section 21E of the United States
Securities and Exchange Act of 1934, as amended. Forward-looking
statements are identified by words such as "anticipates,"
"believes," "expects," "intends," "may," "can," "will,"
"estimates," and other similar expressions. However, these words
are not the only way Nexxen International, or any of its
affiliates, identify forward-looking statements. All statements
contained in this press release that do not relate to matters of
historical fact should be considered forward-looking statements
including, without limitation, statements regarding anticipated
benefits of the LGE and Alphonso partnership
and settlement, or any other partnership, settlements, our tech stack, and any other offerings of Nexxen and any
affiliates. These statements are neither promises nor guarantees
but involve known and unknown risks, uncertainties and other
important factors that may cause Nexxen's actual results,
performance, or achievements to be materially different from its
expectations expressed or implied by the forward-looking
statements. Nexxen cautions you not to place undue reliance on
these forward-looking statements. For a more detailed discussion of
these factors, and other factors that could cause actual results to
vary materially, interested parties should review the risk factors
listed in the Company's most recent Annual Report on Form 20-F,
filed with the U.S. Securities and Exchange Commission
(www.sec.gov) on March 7, 2023. Any forward-looking statements made
by Nexxen in this press release speak only as of the date of this
press release, and Nexxen does not intend to update these
forward-looking statements after the date of this press release,
except as required by law.
Nexxen, and the Nexxen logo are
trademarks of Nexxen International Ltd. in the United States and
other countries. All other trademarks are the property of their
respective owners. The use of the word "partner" or "partnership"
in this press release does not mean a legal partner or legal
partnership.