Nexstar Broadcasting Group has acquired the stock of Enterprise Technology Group (ETG), which it describes as “a provider of cloud-based content management, engagement and monetization solutions.” The acquisition adds technology and developers to Nexstar’s current content management business, noted the broadcaster.
Enterprise Technology Group’s clients include broadcasters, print publishers and retailers, as it delivers “any screen” capabilities with respect to content creation, management, engagement and monetization.
Terms of the deal were not divulged.
“ETG represents an excellent strategic fit with Nexstar’s current digital media portfolio,” said Tom O’Brien, Nexstar executive VP of digital media/chief revenue officer. “Combining their multi-screen, responsive technology with Nexstar’s existing digital platform and agency capabilities, from our Internet Broadcasting and Inergize Digital divisions, enables us to expand the range of ‘best of breed’ content publishing and monetization tools that we can offer to power our clients’ digital media businesses.”
The acquisition is expected to expand Nexstar’s digital business portfolio to approximately $50 million in annual run rate revenues.
“This is another step in our plan to strategically invest in and expand our digital media portfolio to serve a broad range of businesses and needs,” said Perry Sook (pictured), president and CEO of Nexstar. “By combining Nexstar’s technology offerings and capabilities with ETG’s, our holistic approach to content rendering, analytics and platform optimization will create revenue opportunities and deliver value across our existing digital media operations and to our growing client base, particularly those seeking cross-device CMS solutions.”
