Nexxen expects to expand CTV OEM relationships via Vestel’s VIDAA partnership

Nexxen (NEXN) anticipates benefitting from the announcement that Vestel recently entered a strategic partnership with VIDAA. 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 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 entered a partnership with VIDAA through which VIDAA will serve as the smart TV operating system for Vestel’s global CTV original equipment manufacturer 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 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 monetization in select markets and Nexxen’s existing European CTV footprint, enabled through its partnership with Hisense 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 $25M investment in the smart TV platform in August 2022.