Viewbix Inc., a global ad-tech developer, has closed the strategic sale of its digital content subsidiary, Cortex Media Group Ltd., to Minute Media, a leading global technology and sports content company. This divestiture is a key step in Viewbix's previously announced strategy to exit legacy operations and reposition itself into high-growth innovation sectors, specifically quantum computing and advanced AI.
Viewbix sells its Cortex Media digital content subsidiary to Minute Media.
The sale aligns with a strategic shift away from legacy advertising operations.
Proceeds will help fund Viewbix's entry into the quantum computing sector.
Viewbix recently signed a term sheet to acquire Quantum X Labs Ltd.
Minute Media, the buyer, is the publisher of Sports Illustrated and other major brands.
This move allows Viewbix to focus resources on high-growth tech like quantum and AI.
The sale of Cortex Media is a direct execution of Viewbix's plan to transition beyond its traditional digital advertising business. The company has been actively evaluating opportunities to enter more innovative and high-growth technology fields. This divestiture provides capital and strategic focus, enabling Viewbix to reallocate resources toward its ambitious new direction in cutting-edge computational technologies.
The capital and operational focus unlocked by this sale are critical for Viewbix's next chapter. Just last week, the company announced it had signed a non-binding term sheet to acquire Quantum X Labs Ltd., marking its intended entry into the quantum computing and advanced computational technologies field. The sale of Cortex Media effectively funds this strategic pivot, providing the financial means to pursue this acquisition and other ventures in the quantum and AI space, subject to the execution of a definitive agreement and standard closing conditions.
The buyer, Minute Media, is a significant player in the global content and technology landscape. Through its subsidiary, Pro Sportority (Israel) Ltd., it acquires Cortex Media to bolster its portfolio. Minute Media is a leading technology and sports content company that holds the publishing rights to Sports Illustrated and operates other major brands like The Players' Tribune and FanSided. This acquisition strengthens Minute Media's content and technology arsenal, while allowing Viewbix to streamline its operations for its new focus.
This transaction represents a significant strategic realignment for Viewbix. By divesting a core, legacy subsidiary, the company is making a decisive move to reinvent itself, betting on the transformative potential of quantum computing and AI to drive its future growth and market valuation.
About Viewbix Inc.
Viewbix, through certain of its subsidiaries Gix Media Ltd. and Metagramm Software Ltd., operates in the field of digital advertising. Gix Media develops a variety of technological software solutions, which perform automation, optimization and monetization of internet campaigns, for the purposes of acquiring and routing internet user traffic to its customers. Metagramm is a developer of grammatical error correction software. The company offers tools for writing and reviewing, grammar, spelling, punctuation and style features, as well as translation and multilingual dictionaries, using artificial intelligence and machine learning technology. Viewbix’s technological tools allow advertisers and website owners to earn more from their advertising campaigns and generate additional profits from their websites.
About Minute Media
Minute Media is a global technology and content company specializing in sports and culture. Minute Media's proprietary tech platform enables the creation, distribution, and monetization of digital content experiences. They own and operate leading sports content brands, including The Players' Tribune, FanSided, and 90min, and serve as the publisher of Sports Illustrated and Sports Illustrated Swimsuit across digital and print platforms. Minute Media has a robust sports highlight rights portfolio through STN Video, providing distribution and monetization for leagues and teams. The company reaches 200M monthly users, powering 1,500+ content creators and 400+ distribution partners across 14 global markets in 10 languages.
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