Extreme Reach to Buy Digital Generation's TV Business for $485 Mln

Extreme Reach, a portfolio company of Spectrum Equity, has agreed to buy the TV business of Digital Generation for $485 million cash. The deal includes Digital Generation's advertising distribution business unit. Spectrum Equity, which invested $51 million in Extreme Reach in May 2013, has agreed to invest up to an additional $47 million to facilitate the acquisition. J.P. Morgan and SunTrust Robinson Humphrey are providing debt financing. Berenson & Co. provided financial advice to Extreme Reach. Needham, Mass.-based Extreme Reach provides cross-media video advertising solutions that span TV, online, mobile and all other video media.

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