XLMedia Sells North America Unit to Sportradar AG

XLMedia (GB:XLM) has released an update.

XLMedia has announced the proposed sale of its North America business to Sportradar AG for up to $30 million, as part of a strategic move to maximize shareholder value. The transaction, which includes an initial payment of $20 million and an additional $10 million subject to performance, will transform XLMedia into a cash shell focused on distributing proceeds to shareholders. This divestment follows a previous sale of its Europe assets, highlighting XLMedia’s shift away from direct market competition.

For further insights into GB:XLM stock, check out TipRanks’ Stock Analysis page.