Cadent, a NYC-based independent solutions providers for converged TV advertising, is to acquire AdTheorent (Nasdaq: ADTH), a NYC-based machine learning pioneer and industry leader delivering measurable value for programmatic advertisers, for $3.21 per share or approx. $324M.
The transaction is subject to customary closing conditions and completion of regulatory review and AdTheorent shareholder approval. It has been approved by the AdTheorent Board of Directors and is expected to close in approximately 90 days. Novacap, the Montreal-based private equity firm which acquired Cadent in August 2023, provided strategic services and funding support to Cadent for the acquisition.
Led by James Lawson, CEO, AdTheorent uses advanced machine learning technology and privacy-forward solutions to deliver impactful advertising campaigns for marketers. Its machine learning-powered media buying platform powers its predictive targeting, predictive audiences, geo-intelligence, audience extension solutions and in-house creative capability, Studio A\T. Leveraging only non-sensitive data and focused on the predictive value of machine learning models, AdTheorent’s product suite and flexible transaction models allow advertisers to identify the most qualified potential consumers coupled with the optimal creative experience to deliver results, measured by each advertiser’s real-world business goals.
The acquisition will create one of the largest independent omnichannel audience activation platforms for buyers and sellers of advertising. The newly formed entity will provide expanded performance advertising solutions that cater to both digital and traditional TV markets powered by advanced machine learning and a unified media and data marketplace. The combined company will serve nearly 1,000 advertisers partnering with all leading holding companies, agency groups, independent agencies, and premium publishers. In addition, AdTheorent’s leadership in ID-independent machine learning and algorithmic audience solutions, combined with Cadent’s cookieless household identity graph positions the combined company to be at the forefront of unifying fragmented audiences.
Led by Nick Troiano, CEO, Cadent provides provides marketers, agencies, operators, and media owners with data-driven solutions for buying and selling TV advertising. By connecting brands with opportunities across national inventory sources—cable, broadcast, and digital media—the technology improves efficiencies and boosts the results of cross-screen campaigns.
FinSMEs
01/04/2024