21st Century Fox has agreed to acquire interactive ad company True[x] Media.
The Wall Street Journal broke the news this morning and reported that the acquisition price was $200 million, although the financial terms were not officially disclosed.
Founded in 2007 as SocialVibe, True[x] raised a total of $49.9 million in funding from investors including Redpoint Ventures, Jafco Ventures, Pinnacle Ventures, and Norwest Venture Partners, according to CrunchBase. James Murdoch, co-chief operating officer at 21st Century Fox (and son of Rupert Murdoch), joined the True[x] board earlier this year.
Fox says the company will continue to operate as a standalone business but also “work closely with Fox Networks Group to drive engagement between brands and consumers on Fox’s proprietary digital platforms.”