Ad tech giant Magnite has pinched connected TV ad specialist SpotX from the RTL Group for the impressive price of $1.2 billion. Magnite says the acquisition will create the “largest independent CTV and video advertising platform in the programmatic marketplace” – with customers including Discovery, Disney, Electronic Arts, Microsoft, ViacomCBS and WarnerMedia. This gives Magnite’s CTV business a huge boost. Magnite claims that when factoring in SpotX’s business, its CTV segment in Q4 would grow almost three-fold to $42 million, around 34% of the quarter’s preliminary non-GAAP pro-forma revenue. Quite an achievement when considering that Telaria, one of the two companies that formed Magnite, was itself adept in the world of CTV advertising. Magnite has also claimed that it expects…