VIDAA Will Power Vestel’s CTV OEMs, Expanding Nexxen’s CTV Reach in Europe
by on 15th Jul 2025 in News
Nexxen International Ltd., a global, flexible advertising technology platform with deep expertise in data and advanced TV, today (15th July, 2025) announced it anticipates benefitting from the announcement that Vestel recently entered a strategic partnership with VIDAA, the world’s second largest and fastest-growing smart TV platform.
Nexxen has a strategic partnership with VIDAA, which is set to expire at the end of 2026, and currently holds an approximately 2.439% ownership stake in the smart TV platform. In May 2025, Nexxen signed a non-binding Memorandum of Understanding (MOU) with VIDAA, outlining the potential extension and expansion of their existing strategic partnership for multiple years beyond its current term, along with a possible increase in Nexxen’s investment in the smart TV platform aimed at accelerating the expansion of VIDAA’s smart TV footprint over the long term. The MOU is non-binding and remains subject to the ongoing negotiation and execution of definitive agreements, as well as customary closing conditions.
VIDAA announced that Vestel, one of Europe’s largest connected TV (CTV) manufacturers which produces CTVs for brands including Vestel, Toshiba, JVC, Telefunken, and others through licensing agreements, recently entered a partnership with VIDAA through which VIDAA will serve as the smart TV operating system for Vestel’s global CTV original equipment manufacturer (OEM) base. VIDAA advised that the partnership is expected to expand VIDAA’s CTV operating system reach, particularly in Europe, concurrently increasing the scale of its global ACR data.
The company believes the agreement, as announced between VIDAA and Vestel, positively impacts all elements of Nexxen’s long-term strategic partnership with VIDAA, including its exclusive access to VIDAA’s global ACR data, exclusive ad monetisation in select markets and Nexxen’s existing European CTV footprint, enabled through its partnership with Hisense (the world’s second largest CTV distributor and VIDAA’s parent company) which also manufactures CTVs for Toshiba and other brands.
In addition, VIDAA advised that Vestel also invested in VIDAA at a valuation comparable to the valuation at which Nexxen closed its USD $25m (£18.7m) investment in the smart TV platform in August 2022.
"We strongly believe in the value of CTV and advanced TV data in advertising, and our robust partnerships across the CTV OEM and operating system landscape are integral to driving enhanced results for our customers worldwide," said Ofer Druker, chief executive officer of Nexxen. "Our combined relationships with Hisense, VIDAA and now Vestel create a compelling value proposition for our partners while strengthening our unique data and media offerings within the European CTV advertising market. Our collaboration and investment contribute to an increasingly valuable base of ACR data in a market poised for substantial growth, following trends we’ve seen in the US."
Guy Edri, chief executive officer at VIDAA, said, "We are excited to add Vestel to our roster of strategic partners and believe our relationships with both Nexxen and Vestel strengthen our leadership position as the world’s fastest-growing smart TV platform. Together with our partners, we believe we can realise our vision of becoming the world’s largest smart TV platform."
All information in this press release relating to VIDAA and Vestel and the agreements between VIDAA and Vestel is based solely on information provided by VIDAA to Nexxen or information publicly announced by VIDAA and Vestel. None of such information was verified independently by Nexxen, and the company does not take responsibility for the accuracy of any such information.
Follow ExchangeWire