M&A
confidence high
sentiment positive
materiality 0.70
Viewbix subsidiary Gix Media increases Cortex stake to 80%; valuation rises to $27M
Viewbix Inc.
- Acquired additional 10% of Cortex Media Group, raising ownership from 70% to 80% on a fully diluted basis.
- Transaction values Cortex at ~$27M, up from $16M in Oct 2021; consideration of $2.7M in cash.
- Gix Media's revenues grew 176% to $66.1M for 9 months ended Sep 30, 2022 vs same period 2021.
- Financing will use cash and expansion of a $1.5M bank loan.