Altice N.V. (Euronext: ATC, ATCB), a multinational cable, fiber, telecommunications, contents, media and advertising company, is to acquire Teads, a Montpellier, France-based online video advertising marketplace.
The acquisition, subject to certain competition reviews and expected to close in mid-2017*, values Teads at an enterprise value of up to €285m on a cash and debt free basis. The senior management of Teads, including Executive Chairman Pierre Chappaz and Chief Executive Officer Bertrand Quesada, will continue to lead the business going forward and have agreed to reinvest a significant (undisclosed) portion of their proceeds. Pierre Chappaz will join Altice’s Management Board responsible for all of its advertising activities.
This acquisition will enable Altice to expand its global advertising offerings and provide clients with data-driven, audience-based advertising solutions on multiscreen platforms including TV, digital, mobile and tablets.
Founded in 2011, Teads operates an online video advertising marketplace with an audience of more than 1.2 billion unique visitors including 720 million via mobile. It enables publishers to create brand new video inventory and manage their existing inventory, monetizing it through their own sales force, Teads sales force, or programmatic buying. Brands and agencies can access this inventory, available on the web and on mobile, through programmatic or managed services.
The company was backed by Gimv, Elaia Partners, and Partech Ventures.
* The purchase price is subject to Teads achieving certain revenue targets in 2017. 75% of the acquisition purchase price will be due at closing. The remaining 25% earn-out is subject to Teads’ 2017 revenue performance and will become payable in early 2018.