Walt Disney Co. has sold TrueX Inc., an advertising-technology company it absorbed as part of its $71.3 billion acquisition of 21st Century Fox assets in 2019, to Gimbal, a company that provides location-based technology and ad services. Financial terms of the deal weren’t announced. Gimbal, the customer-facing name of PaeDae Inc., paid less than $100 million for TrueX, according to a person familiar with the matter.
Walt Disney is looking to sell TrueX, an advertising-technology company it absorbed as part of its $71.3 billion acquisition of 21st Century Fox assets last year, according to people familiar with the matter.
It’s rare that a small startup acquired by a media behemoth is ever heard from again, let alone shapes the strategy at its new parent. But two years into TrueX’s acquisition by 21st Century Fox, the ad tech company is more relevant than ever as Fox and others aggressively seek ways to reinvent TV advertising.